Former IMF chief economist Raghuram Rajan has been appointed as the new governor of Reserve Bank of India (RBI) for a term of three years.
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Rajan, who is currently the chief economic advisor to the Government of India, will replace D Subbarao, who completes his five-year term on 4 September 2013. He will be the 23rd governor of the country’s central bank.
Rajan completed his doctorate from the Massachusetts Institute of Technology. He was professor at the University of Chicago’s Booth School of Business before taking over as CEA.
The appointment has been approved by the prime minister Manmohan Singh.
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By GlobalData
