After IMF ouster, ISB reviews K Subramanian's role: Report

Krishnamurthy Subramanian

The Indian School of Business has set up a committee to review the role of Krishnamurthy Subramanian who is a professor of finance at the Hyderabad-based institute, the Mint has reported.

The review comes few days after the government cut short term as Executive Director (India) at the International Monetary Fund (IMF), six months before his term was to run out.

ISB's executive board has referred the matter to a review panel to decide if Subramanian, who is on leave till November, should continue as a professor of finance, the report cited sources as saying.

Moneycontrol couldn't verify the report independently.

ISB told Mint that it is committed to the integrity of its staff and faculty.

Earlier this month, the government terminated Subramanian's term at IMF, without giving any reason. The decision came just before a crucial IMF Board review of financial facilities granted to Pakistan.

Though the government didn’t give any reason for its decisions, media reports said officials at IMF were not impressed with his sustained scrutiny of credibility of its datasets.

There were also reports of “potential impropriety” in publicising the former chief economic adviser's  book  India@100: Envisioning Tomorrow’s Economic Powerhouse.

Subramanian is yet to react to the developments.

On May 9, IMF sent the second tranche of special drawing rights worth $1,023 million to Pakistan as part of its extended fund facility programme.

Also read: Kerala Congress' 'WhatsApp University' jab at Krishnamurthy Subramanian after IMF ouster

On May 9, IMF approved an additional $2.4 billion package for the Pakistan, saying the country made “significant progress” in stabilising the economy and rebuilding confidence.

The decision allowed immediate disbursement of around $1 billion, bringing total disbursements to about $2.1 billion.

In addition, the board approved the authorities’ request for an arrangement under the Resilience and Sustainability Facility (RSF), with access to about $1.4 billion.

It sent the second tranche of special drawing rights to Pakistan, State Bank of Pakistan said on May 14. The second tranche, worth $1,023 million, is part of IMF's extended fund facility programme.