Raghuram Rajan has been appointed as the new Governor of the Reserve Bank of India (RBI) for 3 years. He will replace present Governor D Subbarao whose tenure ends Sep 4, 2013.
Finance Ministry released a statement on Tuesday that read, "Prime Minister has approved the appointment of Raghuram Rajan as the governor of Reserve Bank of India (RBI) for a term of three years".
Prior to this post Raghuram has served as Chief Economic Advisor to the Ministry of Finance from 2012 till present.
50-year-old Rajan had also served as Economic Counselor and Director of Research at the International Monetary Fund (IMF) from October 2003 to December 2006.
He was made honorary economic adviser to PM Manmohan Singh in 2008.
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