New Delhi: Raghuram G. Rajan took over as the 23rd Governor of the Reserve Bank of India on Wednesday. The 50-year-old economist took charge from D. Subbarao.
The duo shook hands warmly and hugged after Rajan signed a 65-year-old scroll, made of toughened paper, that bears the signatures of all governors and deputy governors of RBI.
“Ten minutes ago, I handed over charge to Raghuram Rajan,” Subbarao said after stepping out of Mint Road.
“The country could not have asked for a more capable person to lead RBI in these most difficult times.”
An alumnus of IIT Delhi (1985) and IIM Ahmedabad (1987), Rajan has taken over from D. Subbarao whose five-year term ended today.
He was earlier Chief Economic Advisor, Ministry of Finance, a post that he held for about a year.
Earlier, he has also been Chief Economist of the International Monetary Fund and Professor of Finance at the Booth School of Business at the University of Chicago.
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