Government is likely to announce successor to Raghuram Rajan, the outgoing governor of RBI, after Prime Minister Narendra Modi returns from his five-day, four nation tour of Africa, a top official said on July 5.
"A new governor will be named after Prime Minister returns from his Africa tour on July 11," the official said.
Rajan's three-year term will come to an end on September 4, as he last month announced that he would return to academia and not seek a second term.
Top contenders for the post are former deputy governors of the Reserve Bank of India Subir Gokarn and Rakesh Mohan. Gokarn is an Executive Director at the
International Monetary Fund, a post previously held by Mohan. Others who are said to be in the fray for job include SBI chief Arundhati Bhattacharya and Economic
Affairs Secretary Shaktikanta Das. Government's Chief Economic Adviser Arvind Subramanian and the RBI's current Deputy Governor Urjit Patel are also considered to be in reckoning. Incidentally, Patel got a three-year extension as RBI Deputy Governor in January.
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