Things to know about likely new RBI chief Arvind Panagariya

While many names have come up as contendors to replace Raghuram Rajan as Reserve Bank of India Governor, a new report yesterday mentioned NITI Aayog Vice-Chairman Arvind Panagariya as the person likely to take the job. Here are some things to know about the man: 

> The 63-year-old Panagariya was appointed as the Vice-chairman of NITI Aayog in January 2015, when he was a professor at the Columbia University. 

> He holds a PhD from Princeton University and has authored and edited ten books. He is a close associate of economist Jagdish Bhagwati, with whom he co-authored India’s Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges. 

> Panagariya has also been the Chief Economist of the Asian Development Bank, World Bank, International Monetary Fund, World Trade Organization and United Nations Conference on Trade and Development. 

> Panagariya is considered by some as the ‘government’s man’, thanks to his vocal backing of and confidence in the Modi-led government. His most recent was his praise of the government for putting back the economy on track. 

> In March 2012, the Government of India had honoured Panagariya with the Padma Bhushan - third highest civilian honour in the country. Trivia: If he becomes the Reserve Bank governor, it will be a step down for him as he currently holds a cabinet minister rank whereas a governor only enjoys cabinet secretary rank. 

Source: Moneycontrol (www.moneycontrol.com)