Reserve Bank of India (RBI) Governor Raghuram Rajan has been felicitated with the Central Banker of the Year Award (Global and Asia Pacific) for 2016 by The Banker, the Financial Times Group’s monthly publication.
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London.
The Banker also conducts awards for Deals of the Year, Innovation in Banking Technology, Investment Banking, Finance Minister of the Year, Central Bank Governor of the Year, Private Banking and Islamic Bank of the Year.
At 7.4%, India’s 2015 third-quarter gross domestic product growth was the strongest among large economies; the rupee was one of the few stable emerging market currencies in 2015; and a clear financial market liberalisation path is attracting foreign investors and making India’s financial markets more sophisticated.
In recognition of the Reserve Bank of India’s (RBI) contribution to these achievements, The Banker has awarded Raghuram Rajan with the title of Global and Asia-Pacific Central Bank Governor of the Year.
Indian Economy Since Rajan took charge as governer:
He successfully brought down retail inflation to 3.78% in July 2015 from 9.8% in September 2013 – the lowest since the 1990s.
Wholesale inflation was down to a historic low of -4.05% in July 2015 from 6.1% in September 2013.
After his first day at office, the rupee rose 2.1% against the dollar.
RBI adopted consumer price index (CPI) as the key indicator of inflation, which is the global norm.
India’s forex reserve is now stronger by about 30% than it was two years back.
Two universal banks have been licensed and eleven payment banks have been given the nod.
About Raghuram rajan:
Raghuram Govind Rajan is the current and the 23rd Governor of the Reserve Bank of India.
Rajan was chief economic adviser to India’s Ministry of Finance during the previous year and chief economist at the International Monetary Fund from 2003 to 2007.
Education:
Graduated from the Indian Institute of Technology, Delhi with a bachelor’s degree in electrical engineering.
He acquired a Post Graduate Diploma in Business Administration from the Indian Institute of Management Ahmedabad.
He won Director’s Gold Medal in IIT Delhi and was a Gold medalist at IIM Ahmedabad.
He received a PhD in Management from the MIT Sloan School of Management in 1991 for his thesis titled “Essays on Banking”.
Some other awards conferred upon the Raghuram rajan:
In January 2015, British magazine Central Banking, named Rajan as the‘Governor of the Year’.
In October, 2014, Rajan was conferred with the Best Central Bank Governor award for 2014 by Euromoney magazine.
In September, 2013, Rajan was awarded awarded the Fifth Deutsche Bank Prize for Financial Economics 2013.
Rajan’s book “How Hidden Cracks Still Threaten the World Economy” won the Financial Times Business Book of the Year award in 2010.
Raghuram Rajan won the Fischer Black Prize in 2003.
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