India named a former IMF Chief Economist as next Governor of The Reserve Bank of India (RBI), from 5 September. Mr Raghuram Rajan, 50, returned to India from the U.S. last year to become Chief Economic Adviser. He was widely tipped to head the RBI which sets interest rates and influences economic growth. An excellent choice of this soft spoken intellectual heavyweight who is not afraid to speak out. Very well received by India PLC. His biggest challenge in the new job may be dealing with political decisions which may limit his effectiveness. The RBI is semi-autonomous of the Government, although Governors have a lot of independence.
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