Modi government to announce Raghuram Rajan’s replacement next week
The government is likely to announce the name of the new Reserve Bank of India (RBI) Governor as soon as next week when Prime Minister Narendra Modi returns from his tour of Africa, Times of India reported. Modi will be on a five-day Africa tour and will return on Tuesday.
RBI Governor Raghuram Rajan’s tenure ends on September 4. After a severe criticism by BJP MP Subramanian Swamy, Rajan had decided not to seek an extension after his three-year term ends.
According to media reports several names have been shortlisted for the post. Former deputy governors of the RBI Rakesh Mohan and Executive Director at the International Monetary Fund, Subir Gokarn are said to be the frontrunners for the post. SBI chief Arundhati Bhattacharya and Economic Affairs Secretary Shaktikanta Das are also in the fray for the job.
Prime Minister picks the RBI Governor after consultation with the finance minister. Raghuram Rajan’s appointment was made by former prime minister Manmohan Singh.