(Image source from: Raghuram Rajan is the new RBI honcho})
As India struggles to revive its currency that is touching record lows with every passing day, the induction of young finance whiz Raghuram Govind Rajan as the the new RBI chief brings fresh ray of hope. The economist will rake over the high chair of the central bank on September 5, 2013. With thism Rajan will join the list of 22 economic honchos to govern the RBI.
The 50-year-old ex IMF heavyweight, who succeeds Duvvuri Subbarao, is the first non civil servant in the last decade to be at the helm of RBI.
The pragmatist on monetary policy, Raghuram Rajan is likely to toe Subbarao's line on managing inflation.
The outgoing governor had a tempestuous term, blame it on the sliding economy plagued by supply-side bottlenecks and legislative and bureaucratic paralysis.
"(Rajan) has the intellectual pedigree and policy experience, but my worry is people will think a smart guy coming in will fix all of India's problems," said Bhanu Baweja, head of emerging markets strategy at UBS in London.
With Rajan steering the RBI, will Indian economy salvage its losses? Well, that's only for time to tell.
AW: Suchorita Dutta
