Three names have been shortlisted to replace Raghuram Rajan as Reserve Bank of India (RBI) Governor. The top two contenders are Chief Economic Adviser to the Government of India Arvind Subramanian and RBI Deputy Governor Urjit Patel.
Prime Minister Narendra Modi will take the final decision soon.
While Subramanian is a IIM Ahmedabad alumnus and is also a Dennis Weatherstone Senior Fellow at the Peterson Institute For International Economics. He was also an economist at the International Monetary Fund and is a former Senior Fellow with Centre for Global Development.
On the other hand, Patel headed the Committee on 'Flexible Inflation Targeting' and is a former advisor-Energy & Infrastructure, Boston Consulting Group.
He has also worked at the IMF and holds a PhD from Yale University in the USA.
Rajan's three year term as RBI Governor ends on September 4. He had already expressed his desire to return to academics.