D. Subbarao became the governor in September, 2008 and is the 22nd governor of the apex bank of India. He was initially appointed to serve a term period of three years. D. Subbarao has earlier served under Manmohan Singh in the Finance Ministry as a senior official in the early 1990s, when Manmohan Singh was the finance minister.
Moreover it is considered a good decision, as he has shown his potential by taking tough monetary measures to curb inflation and is really taking steps to protect the country against economic crisis. Further, he is expected to be of importance in the present situation of global uncertainty and in facing challenges due to downgrade of the US sovereign rating and the economic crisis in eurozone.