Eight Names Who Can Succeed Raghuram Rajan As RBI Governor
The government is likely to name a new governor of the Reserve Bank after Raghuram Rajan decided to not seek a second term after his tenure ends in September 2016. Dr Rajan, widely acclaimed by investors across the globe as one of the finest economists, is the first RBI governor in nearly two decades to not serve two terms.
Here is the list of probable candidates for RBI governor:
52-year-old Urjit Patel is currently serving his second consecutive term as deputy governor of the Reserve Bank. He has run the central bank's monetary policy department since 2013. Dr. Patel obtained his BA from the London School of Economics and pursued his Ph.D. from Yale University.
57-year-old Arvind Subramanian, currently chief economic adviser with the finance ministry, is an alumnus of St. Stephens College, Delhi and IIM Ahmedabad. He obtained his M.Phil and D.Phil from the University of Oxford.
Arvind Panagariya, currently vice chairman of NITI Aayog, is a noted free market economist with a Ph.D. from Princeton University. Mr Panagariya (63) has been a strong supporter of Prime Minister Modi's Gujarat model of development.
Economic Affairs Secretary Shaktikanta Das is a 1980 batch Indian Administrative Service officer, belonging to the Tamil Nadu cadre. A postgraduate from St. Stephen's College of Delhi University, 59-year-old Mr Das also serves on the board of RBI.
State Bank of India boss Arundhati Bhattacharya, if elected, will be the first woman chief of the central bank. 60-year-old Ms Bhattacharya was named in the Forbes 2016 list of the world's 100 most powerful women.
Noted economist Rakesh Mohan is a two-time deputy governor of the Reserve Bank. Mr Mohan (68) has also served as secretary in the department of economic affairs at the finance ministry and held positions at the International Monetary Fund.
Subir Gokarn (56) currently serves as an executive director at the International Monetary Fund. A former deputy RBI governor, Dr Gokarn looked after monetary policy during his three years at the central bank until the end of 2012.
Kaushik Basu is senior vice-president and chief economist of the World Bank. 64-year-old Mr Basu was earlier the chief economic advisor to the Finance Ministry.