New RBI Governor Raghuram Rajan to face tough times with rising CAD and falling rupee

Posted By: Religare
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New RBI Governor Raghuram Rajan to face tough times
Raghuram Rajan has his job cut out as the new RBI Governor as he will have to deal with declining value of Rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases, reported PTI.

Rajan, 50, who has been in the Finance Ministry as the Chief Economic Advisor for barely a year, will replace Duvvuri Subbarao as the Governor on September 4.

Rajan's appointment as the 23rd central bank chief comes at a challenging time, when the economy is battling industrial slowdown, declining rupee, rising prices and all-time high CAD.

According to the media reports, Rajan is known for his frank views and was acclaimed for predicting the 2008 global financial crisis. In 2005, Rajan had delivered a lecture critical of the financial sector, arguing that a financial disaster might be looming.

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