Are we going to see better times in the economy with the appointment of Raghuram Rajan an Economist with global credentials?
Understand he is a citizen of both US & India (Dual citizenship?)
Let us read the news:
Raghuram Rajan, the country's chief economic advisor, will take over the mantle of governorship of RBI from D Subbarao, who will retire in September this year. Rajan is an Indian economist who served as Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. Rajan is also a visiting professor for the World Bank, Federal Reserve Board, and Swedish Parliamentary Commission. He formerly served as the president of the American Finance Association and was the chief economist of the International Monetary Fund (IMF)He is an alumnus of IIT Delhi, IIM Ahmedabad and MIT
It’s official: Raghuram Rajan is next RBI governor
by FP Staff 15 mins ago
Prime Minister Manmohan Singh has approved the appointment of India’s chief economic advisor Raghuram Rajan as governor of Reserve Bank of India at a time when the country grapples with a weak currency and slowing economic growth.
The appointment of Rajan, 50, as the central bank governor is for three years. He will be the youngest governor to serve at the RBI.
Current RBI governor D Subbarao’s term ends on 4 September while the next mid-quarter policy review is due on September 18.
Experts told CNBC-TV18 that a change of guard at the central bank will not mean a reversal of policies.
http://www.firstpost.com/wp-content/uploads/2013/08/Raghuram-Rajan-PTI-Feb27.jpg
PTI
The biggest challenge for Rajan will be reining in India’s bulging current account deficit and stabilising the forex market as the rupee hit a record low of 61.80 against the US dollar today. The Indian currency has lost 14 percent in the last six months alone.
Dr Bimal Jalan, former RBI governor told CNBC-TV18 that Rajan is an extremely experienced person and an excellent economist.
“I am sure he will cope with the problems that we face,” added Jalan.
DK Mittal, Former Banking Secretary called Rajan a “mature and renowned economist, while BJP senior leader Yashwant Sinha wished him well in his new role.
According to reports, Raghuram Rajan, professor at Chicago’s Booth School of Business and a former chief economist at IMF, had earlier turned down the government’s efforts to rope him in as deputy governor of RBI as he wanted to be RBI’s governor.
Rajan would be the first among recent RBI governors not to have spent a significant part of his career in Indian bureaucracy.
Not shy about speaking his mind, Rajan confronted conventional wisdom with a paper in 2005 at a US meeting of central bankers, warning that financial sector developments could trigger an economic crisis. The argument was dismissed by many at the time as alarmist.
Understand he is a citizen of both US & India (Dual citizenship?)
Let us read the news:
Raghuram Rajan, the country's chief economic advisor, will take over the mantle of governorship of RBI from D Subbarao, who will retire in September this year. Rajan is an Indian economist who served as Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. Rajan is also a visiting professor for the World Bank, Federal Reserve Board, and Swedish Parliamentary Commission. He formerly served as the president of the American Finance Association and was the chief economist of the International Monetary Fund (IMF)He is an alumnus of IIT Delhi, IIM Ahmedabad and MIT
It’s official: Raghuram Rajan is next RBI governor
by FP Staff 15 mins ago
Prime Minister Manmohan Singh has approved the appointment of India’s chief economic advisor Raghuram Rajan as governor of Reserve Bank of India at a time when the country grapples with a weak currency and slowing economic growth.
The appointment of Rajan, 50, as the central bank governor is for three years. He will be the youngest governor to serve at the RBI.
Current RBI governor D Subbarao’s term ends on 4 September while the next mid-quarter policy review is due on September 18.
Experts told CNBC-TV18 that a change of guard at the central bank will not mean a reversal of policies.
http://www.firstpost.com/wp-content/uploads/2013/08/Raghuram-Rajan-PTI-Feb27.jpg
PTI
The biggest challenge for Rajan will be reining in India’s bulging current account deficit and stabilising the forex market as the rupee hit a record low of 61.80 against the US dollar today. The Indian currency has lost 14 percent in the last six months alone.
Dr Bimal Jalan, former RBI governor told CNBC-TV18 that Rajan is an extremely experienced person and an excellent economist.
“I am sure he will cope with the problems that we face,” added Jalan.
DK Mittal, Former Banking Secretary called Rajan a “mature and renowned economist, while BJP senior leader Yashwant Sinha wished him well in his new role.
According to reports, Raghuram Rajan, professor at Chicago’s Booth School of Business and a former chief economist at IMF, had earlier turned down the government’s efforts to rope him in as deputy governor of RBI as he wanted to be RBI’s governor.
Rajan would be the first among recent RBI governors not to have spent a significant part of his career in Indian bureaucracy.
Not shy about speaking his mind, Rajan confronted conventional wisdom with a paper in 2005 at a US meeting of central bankers, warning that financial sector developments could trigger an economic crisis. The argument was dismissed by many at the time as alarmist.
