India to Appoint Rajan’s Successor at RBI by Mid-July, WSJ Says

  • Former deputy governors Gokarn and Mohan among front-runners
  • PM Modi to follow tradition by choosing the next governor

India is likely to appoint a successor to outgoing central bank governor Raghuram Rajan by July 15, the Wall Street Journal reported, citing an official it didn’t identify.

The government is keen to make the announcement before parliament’s monsoon session that’s scheduled to start July 18, the report said. Former Reserve Bank of India deputy governors Subir Gokarn and Rakesh Mohan are front-runners to succeed Rajan, who said he’d return to academia when his term ends in September following attacks by a member of Prime Minister Narendra Modi’s ruling party.

Other candidates include Chief Economic Adviser Arvind Subramanian and current Deputy Governor Urjit Patel and any decision will be made by Modi, according to the WSJ report.

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