10 Most Interesting Facts about Raghuram Rajan (Former RBI Governor)

We’ve had a fair share of people over the years who has carved a career of finesse in this economic faculty. The world has been home to few such personalities. Today we’ll look to have an insight on one such astonishing of a talent, Raghuram Rajan, the current Governor of Reserve Bank of India.

If there’s a count on the finest central bankers India has had till date, the name of Raghuram Rajan would pop up at the top place. A person who is revered all around the globe for his expertise and analytical skills.

So shall we begin then?

Raghuram Rajan

10) An IIT and IIM Alumnus

  • Raghuram Rajan studied electrical engineering in IIT, Delhi for a bachelor’s degree. He further studied at IIM, Ahmedabad for the post-graduate diploma. He was a gold medalist in IIM.

9) Author of Best Business Book of the Year

  • Raghuram Rajan’s creation Fault Lines: How Hidden Fractures Still Threaten the World Economy was awarded the Best Business Book of the Year in 2010 by Financial Times-Goldman Sachs.

8) Eric J Gleacher Distinguished Service Professor of Finance

  • Raghuram Rajan served as a professor in the University of Chicago’s Booth School of Business in economic faculty. He was awarded the accolade in 2007 which he held till 2013 before leaving due to public service commitments.

7) Receiver of Inaugural Fischer Black Prize

  • Raghuram Rajan was the receiver of the inaugural Fischer Black Prize which is awarded to the financial economist under the age of 40 who has made the significant contribution to the sector.
  • The award show is organized every two years.

6) Predicted the Global Financial Crisis

  • It was in 2005 when Raghuram Rajan presented a paper outline showcasing looming financial dangers and risks associated with the current system.
  • The response to his paper was negative to say the least and was met with hurls and namesakes.
  • But his analytical skills showed true when the predicted global economic crisis occurred in 2008.

5) Chaired the Committee on Financial Sector Reforms

  • Raghuram Rajan was appointed the chairman of the Committee on Financial Sector Reforms in 2008.
  • He was set up a task of recommending the best monetary policies for inflation control and debt curb.

4) Vice-Chairman of the Bank for International Settlements (BIS)

  • It was on 9th November, 2015 that Raghuram Rajan was appointed the Vice-Chairman of Bank for International Settlements (BIS).
  • The bank was formed as an international company limited by shares of the central banks of different nation accordingly. The bank provides banking facilities to the central bank and is also regarded as the bank of the central banks.

3) Served as Chief Economic Adviser to the Finance Ministry

  • He has served as the chief economic advisor to the Finance Mister in the run-in year 2012.
  • He was the one who prepared the economic survey for the fiscal year 2012-13.

2) Chief Economist at IMF

  • Raghuram Rajan served in the International Monetary Fund (IMF) as the Chief Economist from the year 2003 to 2007.
  • He is the youngest one to be appointed at the prestigious post.

1) 23rd Governor of RBI

  • Raghuram Rajan was appointed at the helm of RBI Governor in 2013. He took over the office from Duvvuri Subbarao.
  • He would be serving a term of 3 years as the governor.
  • Having had a look around in the financial situation of the Indian Economy, he has promised to policies regarding reforming of banking services be it national banks or foreign banks.

Raghuram Rajan is one of the finest ever intelligent minded person to grace the Indian economy. Having taken over the title of Governor of RBI at a time when Indian economy was in a worst crisis ever faced in last decades, he has banked on reforming and stabilizing the financial situation in the nation.

We hope his tenure brings about the economic growth that was previously just dreamt of.

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