Hello Friends, This is Swati Priya feeling honored by writing a blog for the first time on such a great, honorable personality who achieved great success in every aspect of life. Raghuram Govinda Rajan (Former RBI Governor) was born on 3rd Feb1963 in Bhopal assumed charge as the 23rd governor of Reserve bank of India (4 sep,2013 – 4 sep,2016).
Dr. Rajan is a gold medalist in B-Tech(EE) from IIT Delhi and also received the gold medal for topping the MBA class of 1987 at IIM Ahmedabad. He earned a Ph.D from Massachusetts Institute of Technology’s sloan school in 1991. The same year he joined University of Chicago as an Assistant professor of Finance. He made history in 2003 by becoming the youngest economic counselor and director of Research department of International Monetary Fund. In January 2003, Dr. Rajan was awarded the inaugural Fisher Black prize by American Fisher Association for his contributions to the field of finance.
He also authored two books: ‘Saving Capitalism from the Capitalist’, co-authored with Luigi Zingales, and Faultlines: How Hidden Fractures Still Threatened the World Economy’.
He is one of the few economists to have predicted the sub prime and the financial crises in the US, A full three years before the crises blew up in 2008. At that time his prescient reading of the future was dismissed as pessimism. In 2005, his comments got him few friends but lots of opprobrium and ridicule But just three years later, his comment proved right as the worst financial collapse the great dispersion of 1930 hit the economy by September 2008. Christine Lagarde, Managing director of International Monetary Fund said Dr. Rajan was “one of the world’s most highly regarded financial economist, one whom Fund is fortunate enough to have had as its Economic Counsellor”.
After a turbulent period, when the countries economic growth declined from 9 percent to less than 5 percent, the Indian economy was picking up growth (as last RBI Governor). Inflation was decreased. Considerably, industrial production is rising and agriculture was showing a shine of growth. With his great understanding of financial markets and as an economist per excellence.