Raghuram Rajan – Biography, Career, Awards, Major Works and Net Worth
Raghuram Rajan is an Indian economist. He is the former Chief Economist of the International Monetary Fund and the Governor of the Reserve Bank of India. He earned nickname “Rockstar” and a “Financial Prophet” in the field of economics.
Born in 1963, Rajan performed exceptionally in his three year tenure as the Governor. He was successful in bringing the weakening rupee back to strength and lowering down the inflation rate to 6 percent from double-digit levels. He is the person of great knowledge and humility, who can make bold decisions and perform in pressure.
Raghuram Rajan : Early Life and Personal Details
Raghuram Rajan was born on February 3, 1963, in Bhopal, Madhya Pradesh. His father, R Govindarajan is a retired IPS officer and her mother is a regular homemaker. He grew up in Chennai and New Delhi with his two brothers and one sister.
He completed his schooling from Delhi Public School, New Delhi. After that, he enrolled in IIT Delhi to pursue electrical engineering. After completing engineering, he has done MBA from IIM Ahemdabad. Raghuram completed his PhD course in the theory of financial decisions from MIT Sloan School of Management, Massachusetts, USA.
Rajan is 6 feet 1 inches tall with a weight of 82 kg. His horoscope is Aquarius. He is a Hindu by religion and pure vegetarian by food habit. Besides economics, his hobbies are writing, sports and playing video games. In his free time, he likes to solve puzzles and sudoku. He is a big time foodie. His personal favorites are South Indian Dishes, Paneer Birbali and Coffee.
Rajan is married to Radhika Puri. She is a teacher at the University of Chicago law School. The couple has one son and one daughter.
Caption: Raghuram as the Governor of the Reserve Bank of India
Raghuram Rajan : Career
Rajan started his career as an assistant professor at the Booth School of Business. He proved his mettle as an economist while serving as the IMF Economic Counselor and Director of Research during 2003-2006.
Since 2008, Rajan has been actively involved in Indian economy, playing a variety of important roles. He served as the honorary Economic Advisor to the Planning Commission and Chief Economic Adviser to the Ministry of Finance.
On 5 September, 2013, he became the Governor of the Reserve Bank of India. He lowered down Consumer Price Inflation, Food Inflation and Wholesale Price Inflation. He succeeded in increasing Forex Reserve and Increasing the value of Indian Rupees as compared to the US Dollar. During his term, the RBI sold the longest ever government bonds with a 40-year maturity. He played a significant role in the reviving of Indian economy.
Caption: Raghuram Rajan gives speech at the public event
Raghuram Rajan : Awards and Achievements
Rajan won the Director’s gold Medal and Gold Medal in his college life. In 2003, he won the Fisher Black Prize. He received the Financial Times-Goldman Sachs best business book of the year prize in 2010 for his book, ‘Fault Lines’. For his research work in finance and economics, he won the Deutsche Bank Prize in Financial Economics 2013. For his outstanding performance as the Governor of the RBI, Euromoney Magazine conferred the Best Bank Governor Award to Rajan.
Raghuram Rajan : Major Works
Rajan predicted the financial crisis of 2008 in 2005 through his paper, ‘Has Financial Development Made the World Riskier?’. Other economists ignored him and considered Rajan as crazy and over-reacting. But, economic crisis in the US and the Europe during 2008-2012, cemented his position among some of the greatest economist of our times.
Caption: Raghuram Rajan with Narendra Modi
Raghuram Rajan : Net Worth
Rajan is one of the most celebrated economist in the world. In his distinguished career, he occupied many top positions in prestigious institutions. His publications draws huge readers in the market. Although, there is no official report about his earning, his present net worth should be more than million dollars. At present, he is the Vice-Chairman of the Bank for International Settlements.