The government today extended the tenure of RBI governor D Subbarao by two years. CNBC-TV18's Gopika Gopakumar and Latha Venkatesh sum up the market's reaction.
The mild-mannered bureaucrat who was lost in unknown unknowns just three years ago is today the market's unanimous choice to continue as governor of RBI for another two years. Minutes after the finance ministry confirmed his extension, CNBC-TV18 polled bankers, economists and bond dealers, and an over whelming 90% said that Subbarao's extension is good for the economy.
When asked to rate him in a scale of 1-10, 80% rated him high