02 September 2008

Dr. Duvvuri Subba Rao: Next Governor of Reserve Bank of India (RBI)

The government of India today appointed Finance Secretary Dr. Duvvuri Subba Rao as the next Governor of the Reserve Bank of India (RBI), replacing Y.V. Venugopal Reddy, who completes his term on September 5.

The new Governor D Subbarao will have to carry on with Dr. Reddy’s unfinished task of inflation control which is ruling at 12.40 per cent.

Dr. Subbarao is an alumnus of IIT Kanpur and topper of the IAS (1972 batch). Subsequent to joining the IAS, he did his MS in Economics from Ohio State University (1978) and was a Humphrey Fellow at MIT during 1982-83. He has a Ph. D in Economics. Subbarao was secretary to Prime Minister's Economic Advisory council.

He will be the 22nd Governor of the RBI. RBI Deputy Governor Rakesh Mohan was in the race for this post.

So soon the signature on Indian currency is gone change. Lets see when we will be having new currency and hope he would be able to control the rising inflation and would make our life smooth.
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