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India whittles list of possible Rajan successors down to four

Officials added that outgoing governor Raghuram Rajan was expected to join the search committee to appoint three external members of a new six-member RBI monetary policy committee. Photograph: (Twitter)

Reuters New Delhi, India Jun 27, 2016, 05.01 AM (IST)

The Indian government has whittled down its list of candidates for the next governor of its central bank, the Reserve Bank of India (RBI), to four, three of whom are economists and veterans of the central bank and the other is the head of India's largest bank, State Bank of India.

A senior government official said the four are: RBI deputy governor Urjit Patel; former deputy governors Rakesh Mohan and Subir Gokarn; and State Bank of India Chair Arundhati Bhattacharya.

Two government officials also said that outgoing governor Raghuram Rajan was expected to join the search committee to appoint three external members of a new six-member RBI monetary policy committee (MPC).

The objective, these officials said on condition of anonymity due to the sensitivity of the matter, was to ensure that the MPC is constituted as soon as possible - probably before the appointment of Rajan's successor.

(Reuters)

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