Raghuram G. Rajan
(The Economist with Global Exposure)
India abounds in intellectual property and it has an excellent track record so far as pioneering efforts in many human activities are concerned. It is an altogether different thing that the pace of country's economic development has not been very impressive for the last many months and sceptics have started questioning its formidable position as an upwardly mobile economy. It is supposed to have lost its grace due to its depreciating currency. In such tumultuous times, the taking over of Mr. Raghuram Govind Rajan as the Governor of the Reserve Bank of India on September 4, 2013 has come to the people of the country as solace. A world-class economist, Mr. Rajan was one of the few economists in the world who had foretold the setting-in of global economic downturn before it really started stretching its tentacles the world over.
Mr. Raghuram Govind Rajan, the former International Monetary Fund (IMF) Chief Economist and serving Chief Economic Adviser (CEA) to the Government of India, was appointed the Governor of the Reserve Bank of India on August 6, 2013. He has replaced Mr. D. Subbarao after the latter completed his term on September 4, 2013.
Mr. Rajan is the 23rd Governor of the Reserve Bank of India. He will serve in this capacity for a period of three years. A gold-medallist alumnus of both IIM-Ahmedabad and IIT-Delhi, Mr. Rajan did his doctorate from the Massachusetts Institute of Technology, USA. He was a professor at the University of Chicago's Booth School of Business before taking over as the CEA. Mr. Rajan was also involved with the report on Financial Sector Reforms, which was authorised by the Planning Commission. Prior to it, he had emerged as the key pointman for Finance Minister Mr. P. Chidambaram, on issues as diverse as a new development index to calm down nerves in the markets. Apart from a sound understanding of the economic and financial system, what also works in Mr. Rajan's favour is his familiarity with the key players in the global economic system, especially in uncertain times like the present. Besides, he is expected to get new ideas into the RBI, which many believe is too conservative. At the same time, a professional economist like him is expected to take an independent view of applicants for bank licences and not act under the Finance Ministry's pressure.
(Source : CSR Magazine)
(Source : CSR Magazine)