Raghuram Rajan assumed charge as the 23rd Governor of the Reserve Bank of India on September 4, 2013. Prior to this, he was the Chief Economic Advisor, Ministry of Finance, Government of India and the Eric J. Gleacher Distinguished Service Professor of Finance at the University of Chicago’s Booth School.
Raghuram Rajanjoined the Booth faculty in 1991 after he received a PhD from the Massachusetts Institute of Technology. Earlier, he received an MBA from the Indian Institute of Management in Ahmedabad and an undergraduate degree from the Indian Institute of Technology in New Delhi.
Raghuram Rajan chaired the Indian government’s Committee on Financial Sector Reforms in 2007 and 2008, and he was economic counselor and director of research for the International Monetary Fund from 2003 to 2006.
Before the financial crisis struck, Raghuram Rajan presented his research paper titled “Has Financial Development Made the World Riskier?” at the central bankers’ annual Jackson Hole Conference in 2005. In the paper, he concluded that serious risks to the financial system existed, and proposed policies that would reduce such risks.
Earlier this year, Raghuram Rajan , Eric J. Gleacher Distinguished Service Professor of Finance at Booth, was awarded the Center for Financial Studies – Deutsche Bank Prize in Financial Economics 2013.
Raghuram Rajan received the inaugural Fischer Black Prize, given every two years to the financial economist younger than 40 who has made the most significant contribution to the theory and practice of finance.
Dr. Raghuram Rajan ‘s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. He has co-authored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010.
Dr. Raghuram Rajan is a member of the Group of Thirty. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the global Indian of the year award from NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, and the Center for Financial Studies-Deutsche Bank Prize for financial economics in 2013.
Having worked as a consultant for the Indian Finance Ministry, World Bank, Federal Reserve Board and Swedish Parliamentary Commission, Raghuram Rajan is a respected American economist. With all his credentials, he is arguably the most prominent economist of Indian origin of his generation