Arvind Panagariya, the policy adviser to Prime Minister Narendra Modi could be named the as the next Governor of Reserve Bank of India as Raghuram Rajan’s three-year term will come to an end on September 4.
According to reports, Panagariya’s name is being touted to be the most likely successor of incumbent Raghuram Rajan.
Panagariya is an Indian-American economist and Professor of Economics at Columbia University and an ex-Chief Economist at the Asian Development Bank.
He is presently serving as the Vice Chairman of Niti Aayog of India.
His name as frontrunner for the post came a day after he said the UPA I government had expanded social schemes but not taken necessary measures to sustain the high growth over a longer period of time.
Earlier, reports had emerged that State Bank of India (SBI) chairperson Arundhati Bhattacharya is the frontrunner among the contenders for the post.
Several names, including Vijay Kelkar, Rakesh Mohan, Ashok Lahiri, Urjit Patel, Subir Gokarn and Ashok Chawla, are doing the rounds for the RBI Governor’s post.