Raghuram Rajan appointed next RBI Governor

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Chief Economic Adviser to Govt of India Sri Raghuram Govind Rajan was on Tuesday appointed as Governor of the Reserve Bank of India (RBI) for three years. He will take over from D. Subbarao who demits office on September 4.

At 50, by far one of the youngest to become RBI Governor, Dr. Rajan, who is credited to have correctly predicted the 2008 financial crisis, is set to take over the mantle of the central bank at a time when the economy is faced with a multi-pronged crisis of high consumer price inflation, industrial slowdown, a free fall of the rupee and a widening current account deficit (CAD).