RBI Deputy Governor Rakesh Mohan, who was in the race for the top slot in the central bank, has resigned to take up an assignment at Stanford University in the United Stated.
RBI sources said the Deputy Governor has put in papers, but will not quit the central bank immediately.
"Rakesh Mohan has been offered an appointment as the distinguished consulting professor at the Stanford Centre for International Development at Stanford University," a statement from RBI said here.
He will take up the new assignment from June 15 for six months. According to sources, he will quit RBI around that time only.
RBI Governor D Subbarao said, "Over the last several months, as I traversed a steep learning curve, I have grown to depend on him for advice and counsel. All of us in RBI will miss Mohan's counsel, expertise and his disarming candour."
This is Mohan's second stint in the RBI as a deputy governor. He had earlier served in this post from September 9, 2002 to October 31, 2004 before moving to the Union Finance Ministry as the Economic Affairs Secretary.
He returned to the RBI in the same post from July 2, 2005. Rakesh Mohan is in-charge of monetary policy, financial markets, economic research and statistics in RBI.
Mohan was in the race for the post of RBI governor to succeed Y V Reddy who retired in September 2008.
