New Delhi, Sep 1 : Dr. Duvuri Subbarao has been appointed as the next Governor of Reserve Bank of India.
He will take charge of the new post after the present RBI Governor, Dr. Y.V. Reddy demits his office on September 5. Finance Minister P. Chidambaram made this announcement today.
Dr. Subbarao is presently holding the post of Finance Secretary in the Ministry of Finance. Prior to this, he was Secretary, Department of Economic Affairs in the Ministry of Finance. He belongs to the 1972 batch of the IAS (Andhra Pradesh cadre).
Dr. Subbarao has wide experience on issues in public finance and has held important posts in this area. He has worked as Secretary to the Prime Minister's Economic Advisory Council.
Dr. Subbarao studied at IIT Kanpur and was one of the first IIT products to join the civil services. Subsequent to joining the IAS, he did his MS in Economics from Ohio State University (1978) and was a Humphrey Fellow at MIT during 1982-83. He has a Ph. D in Economics.