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What are the achievements of Raghuram Rajan?
His biggest achievement discussed thus far is how he managed to bring down the double-digit inflation in India in 2013 to below 6\% by 2016. Rajan went bullishly behind bad loans and opened up India’s banking sector. During his tenure, his smart analysis and matter-of-fact speeches made him popular among the masses.
How did Raghuram Rajan became Governor of RBI?
In 2008, then Prime Minister Manmohan Singh appointed Rajan as an honorary economic adviser. From there, Rajan became the Chief Economic Adviser to the government of India. He was highly praised for his policy recommendations and, as a result, appointed RBI Governor in 2013.
Why did RBI Governor Raghuram Rajan resign?
Rajan, who was Governor of the Reserve Bank of India (RBI) from September 5, 2013 to September 2016, said during his term a clean up of the banking sector that was “clogging” with bad loans had begun and the job remains unfinished. He said the country needs a new generation of reforms to accelerate economic growth.
How many deputy governors are there in RBI?
three deputy governors
Sankar has filled the vacancy created after the retirement of B P Kanungo on April 2. The other three deputy governors are Michael D Patra, who heads the all-important monetary policy department; Mukesh Kumar Jain, the commercial banker-turned-central banker; and Rajeshwar Rao.
When did RBI governor changed?
(TN:80) as Governor, Reserve Bank of India for a period of three years beyond 10.12. 2021 or until further orders, whichever is earlier,” read the order. Mr Das was appointed as RBI’s 25th governor on December 11, 2018 for a period of three years, after the then governor Urjit Patel resigned before the end of his term.
What is the age of Raghuram Rajan?
58 years (February 3, 1963)
Raghuram Rajan/Age
When did Rajan take over as the RBI Governor?
On 6 August 2013 it was announced that Rajan would take over as the Governor of the Reserve Bank of India for a term of 3 years, succeeding Duvvuri Subbarao. On 5 September 2013 he took charge as the 23rd governor, at which point he took a leave of absence from the University of Chicago Booth School of Business.
Who is Raghuram Govind Rajan?
Born on the 3 rd of February 1963, Raghuram Govind Rajan is the 23 rd Governor of the Reserve Bank of India. This is equivalent to the Chairman of the US Federal Reserve, but his office, in reality, can also be considered as the true Deputy Finance Minister of the Country.
What is the history of your Govindarajan?
Assigned to the Intelligence Bureau, R Govindarajan, his father, was posted to Indonesia in 1966. In 1968 he joined the newly created external intelligence unit of the Intelligence Bureau, the Research and Analysis Wing (R&AW) where he served as staff officer under R. N. Kao and became part of the “Kaoboys”.
What is the contribution of Rishi Rajan to economics?
He has worked with Luigi Zingales on the effect of institutions on economic growth, their research showing that development of free financial markets is fundamental to economic modernisation. Rajan and Zingales built on their work to publish Saving Capitalism from the Capitalists in 2003.