Raghuram Govind Rajan Wednesday took over as the 23rd governor of the Reserve Bank of India (RBI).
Rajan, 50, who was chief economic advisor in the finance ministry, took charge at the Mint Street here from Duvvuri Subbarao, the RBI said in a statement.
"I handed over charge to Raghuram Rajan... the country could not have asked for a more capable person to lead the RBI in these difficult time"," Subbarao said after stepping out of the RBI office.
An alumnus of the Indian Institute of Technology (IIT), New Delhi, the Indian Institute of Management (IIM), Ahmedabad, and the Massachusetts Institute of Technology, Rajan was the youngest economic-counsellor and chief economist at the IMF from October 2003 to December 2006.