Raguhuram Rajan appointed in bank of England and highest paid banker

What a great moment for all Indians and intellectuals..

Shri Raghuram Rajan appointed as governor of Bank of England, the same gentleman discarded by our own government. Meritorious and intellectuals are always recognised and honored.

Raghuram Govind Rajan (born 3 February 1963) is an Indian

London-based Financial Times has listed Raghuram Rajan, former governor of the Reserve Bank of India, as one of the candidates who could be considered for the top job at the Bank of England. 

Mark Carney is also the first foreign governor of UK’s central bank in three decades. Bank of England is likely to have another foreign governor this year, according to Hammond. 

Awards

• In 2012, he was awarded honorary doctorate degree by London Business School and in 2015, was again awarded honorary doctorate degree by Hong Kong University of Science and Technology 
• In 2014, he was conferred the Best Central Bank Governor award by Euro money Magazine.
• In 2014 He was conferred with the Governor of the Year Award 2014 from London-based financial journal Central Banking.

Chief Economic Adviser of India

On 10 August 2012 Rajan was appointed as chief economic adviser to India's Ministry of Finance, succeeding Kaushik Basu. He prepared the Economic Survey for India for the year 2012–13.

This is also not the first time that Rajan’s name has been associated with a top central bank. In October last year, financial magazine Barron’s had tipped his name as the ideal choice to chair the US Federal Reserve, though Jerome Powell later took charge as the Chairman of the Federal Reserve in February this year.   

India’s former Reserve Bank governor Raghuram Rajan is being looked at as the top contender for Bank of England governor’s post.  

Rajan, an IIT and IIM alumnus, is now the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. He was the 23rd Governor of the RBI between September 2013 and September 2016. Between 2003 and 2006, Rajan was the Chief Economist and Director of Research at the International Monetary Fund. 

During his tenure, Raghuram Rajan identified banking crisis and promised to resolve it. The RBI, under him, adopted CPI Inflation as a key indicator of inflation as accepted globally. 

Rajan is presently the Katherine Dusak Miller Distinguished Service professor of finance at the University of Chicago Booth School of Business. He was the governor of the Reserve Bank of India from 2013 to 2016. 

Britain, whose economy was wrecked by the 2008 economic downturn, had barely managed to see some recovery on economic front until the country decided to part ways with the European Union. 

Rajan was forced to quit as the RBI governor after the Centre’s Narendra Modi government rejected his wish for the second term. He was replaced by Urijit Patel, who has come for sharp criticism for not being able to safeguard the RBI’s autonomy and allowed the central government to go ahead with its demonetisation decision. 

Rajan, a widely respected economist, was shortlisted for 2017 Nobel Prize for Economics brought out by Clarivate Analytics, which will be announced on Monday.