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Raghuram Rajan: Financial Prophet Of India

Hey students,

Does the world of economy intrigue you? Then you would have heard about the famous Indian economist Raghuram Rajan. While economists conduct research, collect and analyze data, examine trends and develop forecasts, they also conduct research on topics such as energy costs, inflation, interest rates, farm prices, rents, imports or employment.

Raghuram Rajan’s inspirational success story is here to stay. Let’s get to know about him and his thriving career as a financial analyst:

  1. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016.
  2. He is currently serving as the Vice-Chairman of the Bank for International Settlements.
  3. He was the youngest chief economist at the International Monetary Fund from 2003 to 2007.
  4. Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth.
  5. Raghuram was born on 3rd February 1963.
  6. He was born into a Tamil family Bhopal, Madhya Pradesh. 
  7. He is the third of four children of R Govindarajan, an Indian Police Service officer who topped his 1953 batch.
  8. He is an Indian citizen but holds a US Green Card. He is married to Radhika Puri Rajan, whom he met while they were both students at IIM Ahmedabad. She is an associate professor of behavioural science at the University Of Chicago Booth School Of Business. They have two children.
  9. Rajan attended RK Puram, a public school in Delhi from 1974 to 1981.
  10. Later, in 1981 he enrolled at Indian Institute of Technology, Delhi for a bachelor’s degree in electrical engineering.
  11. He was the head of the student council in the last year of his degree.
  12. He was awarded the Director’s Gold Medal in 1985 for being an-all round student and graduated from the Indian Institute of Management Ahmadabad as a gold medallist.
  13. In 1991, he received his PhD for his thesis titled Essays on Banking.
  14. In 2012, he was awarded the honorary doctorate by the London Business School and received another honorary doctorate by the Hong Kong University of Science and Technology.
  15. He co-authored ‘Saving Capitalism from the Capitalists’ with Luigi Zingales in 2003.
  16. He then wrote ‘Fault Lines: How Hidden Fractures Still Threaten the World Economy’ and was awarded the Financial Times-Goldman Sachs prize in 2010.
  17. Raghuram Rajan was appointed the President of the American Finance Association in 2011.
  18. He is a member of the American Academy of Arts and Sciences and the Group of Thirty.
  19. The American Finance Association awarded Raghuram Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40 in January 2003.
  20. In 2005, his paper he wrote the paper, ‘Has Financial Development Made The World Riskier’ which caught the attention of the audience.
  21. He has received numerous awards such as the global Indian of the year award from NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, Euro money magazine’s Central Banker of the Year Award 2014, Central Banking magazine’s Central Banker of the Year award in 2015 and The Banker magazine’s Global Central Banker of the Year award in 2016.
  22. Raghuram Rajan was named one of Time magazine’s 100 most influential people in 2016.
  23. He has slowly climbed up the ranks in the Indian government on 10th August 2012 and was nominated as Chief Economic Advisor. He took office from Kaushik Basu and was responsible for creating the Economic Survey of India.
  24. He became the youngest governor of the nation and was handed a 3 year tenure to succeed Duvvuri Subbarao.
  25. Besides, Raguram Rajan is widely appreciated and acknowledged in the field of economics.
  26. He is known for his foresight of the 2008 economic recession and is considered amongst the ‘Top 10 Economists’ of the world.
  27. Raghuram Rajan likes outdoors and plays tennis and squash. He enjoys reading Tolstoy, J. R. R. Tolkien and Upamanyu Chatterjee. He has participated in various marathons.

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