Raghuram Rajan appointed as next RBI Governor for three years, to succeed Subbarao

Raghuram Rajan, currently the Chief Economic Advisor to the government of India was on Tuesday appointed the Reserve Bank of India's (RBI) governor for three years.

Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank."Prime Minister Manmohan Singh has approved appointment of Raghuram Rajan as Governor of RBI for a term of three years," an official statement said.