If you are here to improve your banking awareness, you must be aware of the RBI. The RBI or the Reserve Bank Of India is the central bank of our country.
The governor of the RBI is an extremely important post as the man who is the governor of the central bank of the country, is indirectly in charge of all the commercial banks as well. You must be aware that the governor of RBI is appointed by the Government of India for a fixed period of time.
In this module, we will acquaint you with the current governor of RBI, his profile, credentials and will also try to answer why he is fit for the job!
Banking Awareness: The Governor of RBI
Knowing the name of the current governor of the central bank is very crucial if you are appearing for an IBPS exam. You must keep in mind that the current governor of The Reserve Bank Of India is Mr. Raghuram Govind Rajan and he is the 23rd governor. He took charge of the RBI on the day of 4th September, 2013. Preceeding Raghuram Rajan, the governor of RBI was Duvvuri Subbarao.
Raghuram Rajan: Profile
Raghuram Rajan was born on February 3 in the year 1963 in Bhopal, Madhya Pradesh to a Tamil household. His father was a senior officer in Indian intelligence agency. He is married to his IIM classmate, Mrs. Radhika Puri who is currently a lecturer in law at University of Chicago Law School and they have a daughter and a son.
Rajan is a vegetarian who likes to play tennis and squash. He is also an eager quizzer and appeared on national television with some of his friends in the year 1880.
Raghuram Rajan is from Delhi Public School, RK Puram. In the year 1985, he graduated from the Indian institute of technology with a bachelor’s degree in electrical engineering. After graduation, he completed his post graduation program in management from the Indian Institute of Management which is in Ahmedabad in 1987. He wrote a thesis titled “Essays On Banking” in the year 1991, for which he received a Ph.D. in Management from the MIT Sloan school of Management.
- He is the youngest person in history who has been Economic Counselor and Director of Research at the International Monetary Fund (From October 2003 to December 2006) and was also the chief economic adviser to India’s ministry of Finance.
- He is also the first recipient of the Fischer Black Prize awarded by the American Finance Association for contributions to the theory and practice of finance by an economist under age 40, he received this prize in the year 2003.
- In addition to all this, he has also been awarded the 5th Deutsche Bank Prize in Financial Economics for highly influential contributions in a remarkably broad range of areas in financial economics by Center for Financial Studies.
- He was also bestowed with the best central bank governor award for the year 2014 by Euromoney Magazine.
Why is he fit for the job?
Raghuram Rajan is not only an economist but is also the youngest person who has been appointed as the chief economist at Indian Monetary Fund. He has a sound knowledge of the subject and being an economist has a firm grasp over the concept of macroeconomics, this knowledge is needed in the governor of RBI. The above credentials speak for themselves. The solution of a problem is best given by the person who is a specialist in dealing with that problem. For example, It is the eye specialist who can tell you what to do with Myopia;it is not possible for a general physician to do so. Similarly, with all his credentials and qualities, the man who claims to have predicted the economic crisis of 2008, Raghuram Rajan is the specialist that the economy of India needs!
IBPSExamAdda.org.in seeks to help you in improving your banking awareness and this is the reason that we are here with the latest banking awareness 2015 material. We also provide you with banking awareness PDF download. Simply click the red button!