Raghuram Rajan, former governor of the Reserve Bank of India and an economist, made headlines for supporting Rahul Gandhi. His participation in the most recent INC campaign put an end to the rumors. However, do you know who Raghuram Rajan is?
Raghuram Rajan Biography
|
Name |
Raghuram Rajan |
|
Date of birth |
February 3, 1963 |
|
Year old |
59 years |
|
Education |
People with a PhD |
|
Mother’s name |
Mythili |
|
father’s name |
R Govindarajan |
|
Siblings |
Mukund Rajan, Srinivas Rajan & Jayashree Rajan |
|
Couple |
Radhika Rajan |
|
Children |
1 daughter and 1 son |
|
Job |
Indian economist and professor |
|
Awards & Achievements |
Financial Times and McKinsey Business Book of the Year Award Infosys Prize for Social Sciences Fifth Deutsche Bank Prize in Financial Economics Governor of the Year Award 2014 Yashwantrao Chavan National Award 2018 |
Early life
Raghuram Rajan was born on February 3, 1963, into a Tamil Brahmin family in Bhopal, Madhya Pradesh. He attended Delhi Public School in RK Puram for his early education. He enrolled in the electrical engineering bachelor’s program at the Indian Institute of Technology Delhi in 1981. As the best overall student, he received the Director’s Gold Medal upon graduation in 1985. He graduated with Gold medal for academic achievement from the Indian Institute. from the Ahmedabad Management Department with an MBA in 1987. He started working for Tata Administrative Services as a management trainee but left after a short period of time for registration into the doctoral program at the Massachusetts Institute of Technology’s Sloan School of Management.
The London Business School in 2012 and the Hong Kong University of Science and Technology in 2015 both awarded honorary doctorates to the former governor. and the Catholic University of Louvain in 2019.
Rahul Gandhi Biography
Career
Learning
Rajan began working at the University of Chicago Booth School of Business in 1991 as an assistant professor of finance. In 1995, he was hired full-time. He has been a visiting professor at the Indian School of Business, MIT Sloan School of Management, Kellogg School of Management and Stockholm School of Economics.
Rajan has published extensively on organizational structure, corporate finance, growth and development and banking. He is listed among the top 5% of authors by the Economic Research Project, which ranks him as one of the most important economists in the world. He became a member of the American Academy of Arts and Sciences in 2009 and served as president of the American Finance Association in 2011. He is a member of the international economic body the Group of Thirty. He has been a founding member of the academic council of the Indian School of Business since 1998.
Policy development
International Monetary Fund
As first deputy managing director of the IMF at the time, American economist Anne Krueger had recently read Rajan’s book Rescuing Capitalism from the Capitalists and contacted him. . Rajan laid the foundation for the IMF’s national economic models that incorporated financial sector analysis. He also oversaw a team that helped several key economies reduce balance of payments imbalances. The Research Department, under Rajan’s leadership, has made significant contributions to the thorough assessment of the IMF’s medium-term strategy, attempting to incorporate modern exchange rate assessment and modeling techniques. participate in the IMF’s consultations with member countries, and consider the development and integration of China and India into market economies. global economy.
Economic advisor to the Government of India
In 2007, Montek Singh Ahluwalia, then Deputy Chairman of the Planning Commission, asked Rajan to prepare a report outlining the coming wave of financial sector reforms in India.
Rajan was appointed honorary economic advisor by Indian Prime Minister Dr. Manmohan Singh in November 2008, a position that required Rajan to draft policy notes at Singh’s request.
Rajan succeeded Kaushik Basu as chief economic advisor to the Indian Ministry of Finance on 10 August 2012. He also established the Economic Survey of India 2012–2013.
Reserve Bank of India
On 6 August 2013, it was announced that Rajan would take over as Governor of the Reserve Bank of India for a three-year term, succeeding Duvvuri Subbarao. On September 5, 2013, he assumed office as the 23rd governor, at which time he took a leave of absence from the University of Chicago Booth School of Business.
Rajan pledged banking reforms and easing restrictions on foreign banks in his first speech as governor of the Reserve Bank of India. As a result, the BSE SENSEX index increased by 333 points, equivalent to 1.83%. The rupee increased 2.1% against the dollar after his first day in office. As Governor of the RBI, Rajan prioritized reducing inflation, bringing it from 9.8% in September 2013 to 3.78% in July 2015, the lowest since the 1990s. From 6 .1% in September 2013 to a historic low of -4.05% in July 2015, wholesale inflation has fallen.
Rajan was accused of increasing interest rates during his time in office, to the detriment of small and medium enterprises Rajya Sabha MP Subramanian Swamy. Additionally, he asserted that Rajan used his unsecured personal email account from the University of Chicago to send confidential and sensitive financial information. But Rajan argues that addressing them would be tantamount to endorsing the claims, which are fundamentally false and unsubstantiated.
On 18 June 2016, Rajan decided to leave his post as RBI Governor and return to academia. Rajan revealed in September 2017 that the government had not extended him any offer despite his willingness to accept an extension, leaving him with no choice but to return to the University of Chicago.
Personal life
Raghuram Rajan is an American citizen born in India. He met Radhika Puri Rajan when they were both students at IIM Ahmedabad and they are now married. At the University of Chicago Law School, Radhika teaches.
An American solar energy company employs Rajan’s brother. Rajan’s sister is an Indian Administrative Service employee who teaches French in New Delhi. Mukund Rajan, Rajan’s younger brother, was the Chief Ethics Officer and Brand Custodian of Tata Sons.
Rajan only eats plants. He enjoys playing squash and tennis outdoors. He enjoys reading Upamanyu Chatterjee, JRR Tolkien and Tolstoy.
Personal life of Prime Minister Narendra Modi
Awards & Achievements
- In 2003, Rajan won the first Fischer Black Award given by the American Finance Association for contributions to the theory and practice of finance by an economist under 40 years of age.
- In February 2010, NASSCOM honored him as a Global Indian at its 7th annual global leadership awards.
- In 2010, he was awarded the Financial Times and McKinsey Business Book of the Year award for Fault Lines: How Hidden Fractures Still Threaten the World Economic.
- In November 2011, he received the Infosys Prize in Social Sciences and Economics for his work analyzing the contribution of financial development to economic growth, as well as the harmful effects of Ineffective incentives lead to excessive risk taking.
- In 2013, he was awarded the fifth Deutsche Bank Prize in Financial Economics for “groundbreaking research that has influenced macroeconomic and financial policies around the world”.
- In 2014, he was awarded “Governor of the Year 2014” from London-based financial magazine Central Banking.
- In March 2019, he was awarded “Yashwantrao Chavan National Award 2018” for his contributions to economic development.
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Source: pagasa.edu.vn