Government of India in exercise of the powers conferred by clause (a) of sub - section (1) read with sub-section (4) of Section 8 of the Reserve Bank of India Act, 1934, has appointed Dr. Raghuram Rajan, Chief Economic Advisor, Ministry of Finance, as the next Governor of the Reserve Bank of India for a term of three years vice Dr. D. Subbarao upon completion of his tenure.

Dr. Raghuram Rajan has also been appointed as Officer on Special Duty in the Reserve Bank of India for a period of three weeks prior to his taking over as Governor, Reserve Bank of India on September 5, 2013 to provide for an overlap with the present Governor.

Alpana Killawala

Principal Chief General Manager

Appointment of Governor: executive statutory appointment established a three year term with transitional officer on special duty for overlap. The Government, invoking its powers under Section 8 of the Reserve Bank of India Act, appointed Dr. Raghuram Rajan as Governor of the Reserve Bank for a three year term and designated him as Officer on Special Duty for a limited pre commencement period to provide an operational overlap with the outgoing Governor.