Raghuram Rajan

Raghuram Govind Rajan (born 3 February 1963) is the current and the 23rd Governor of the Reserve Bank of India. He took charge of India's central banking institution on 5 September 2013, succeeding Duvvuri Subbarao. Rajan was chief economic adviser to India's Ministry of Finance during the previous year and chief economist at the International Monetary Fund from 2003 to 2007. He is on leave of absence as a professor of finance at the graduate business school at the University of Chicago.

Background

Raghuram Rajan was born 1963 in Bhopal, Madhya Pradesh in a Tamil family and his father was a senior officer in the Intelligence Bureau (India). He did his schooling from 7th to 12th standard in Delhi Public School, RK Puram and graduated from the Indian Institute of Technology, Delhi with a bachelor's degree in electrical engineering in 1985, after which he acquired a Post Graduate Diploma in Business Administration from the Indian Institute of Management Ahmedabad in 1987. He won Director's Gold Medal in IIT Delhi and was a Gold medalist at IIM Ahmedabad. He received a PhD in Management from the MIT Sloan School of Management in 1991 for his thesis titled "Essays on Banking". Rajan joined the Booth School of Business at the University of Chicago. He was the Chief Economist at the International Monetary Fund (IMF) from October 2003 to December 2006. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. He co-authored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy in 2010, for which he was awarded the Financial Times-Goldman Sachs prize for best business book that same year.

Governor of Reserve Bank of India

The Governor of the Reserve Bank of India (RBI) is the chief executive of India's central bank and the ex-officio chairperson of its Central Board of Directors. Indian Rupee currency notes, issued by the RBI, bear the governor's signature. Since its establishment in 1935 by the British colonial government, the RBI has been headed by 23 governors. The inaugural officeholder was the Britisher Sir Osborne Smith, while C. D. Deshmukh was the first Indian governor. The bank's 15th governor, Manmohan Singh, would go on to become India's 13th prime minister. The position is currently held by Raghuram Rajan, who took over from D. Subbarao on 4 September 2013.

RBI governors

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Urjit Patel

Urjit R Patel (born 28 October 1963) is an eminent economist, consultant and banker, currently serving as Deputy Governor of the Reserve Bank of India. He was also Advisor of the Boston Consulting Group. As Deputy Governor of RBI, Dr Patel looks after Monetary Policy, Economic Policy Research, Statistics and Information Management, Deposit Insurance, Communication and Right to Information.

Early life and education

Dr. Patel obtained his BA from the London School of Economics [LSE, University of London], M. Phil. degree from Oxford University in 1986. He received his doctorate in Economics from Yale University in 1990. He joined IMF as a Kenyan citizen. He was at IMF India desk during the 1991-1994 transition period. He was posted to IMF country mission in India 1992-1995. He has also been a non-resident Senior Fellow at the Brookings Institution since 2009.

Professional career

After obtaining his PhD, Dr. Patel joined the International Monetary Fund in 1990 worked on the USA, India, Bahamas and Myanmar desks at IMF till 1995. Thereafter he went on deputation the IMF to the Reserve Bank of India, where he played an advisory role in the development of the debt market, banking sector reforms, pension fund reforms, targeting of real exchange rate. After the two-year deputation with RBI, Patel became a Consultant to the Government of India in the Ministry of Finance, Department of Economic Affairs - a position he held from 1998 to 2001.

Governor

A governor is, in most cases, a public official with the power to govern the executive branch of a non-sovereign or sub-national level of government, ranking under the head of state. In federations, governor may be the title of the politician who governs a constituent state and may be either appointed or elected. The power of the individual governor can vary dramatically between political systems, with some governors having only nominal, largely ceremonial power, while others have complete power over the entire government.

Historically, the title can also apply to executive officials acting as representatives of a chartered company which has been granted exercise of sovereignty in a colonial area, such as the British East India Company or the Dutch East India Company. These companies operate as a major state within a state with its own armed forces.

There can also be non-political governors: high-ranking officials in private or similar governance such as commercial and non-profit management, styled governor(s), who simply govern an institution, such as a corporation or a bank. For example, in the United Kingdom and other Commonwealth countries there are prison governors ("wardens" in the United States), school governors and bank governors.

Run batted in

Run batted in (plural runs batted in, abbreviated RBI) is a statistic in baseball and softball that credits a batter for making a play that allows a run to be scored (except in certain situations like when an error is made on the play).

Historically, the Buffalo Bisons were the first team to track RBIs. Major League Baseball did not recognize the RBI as an official statistic until 1920.

Common nicknames for an RBI include "ribby", "rib", and "ribeye". The plural of RBI is generally "RBIs", although some commentators use "RBI" as both singular and plural, as it stands for Runs Batted In.

Major League Baseball Rules

The official rulebook of Major League Baseball states in Rule 10.04:

(b) The official scorer shall not credit a run batted in

(c) The official scorer's judgment must determine whether a run batted in shall be credited for a run that scores when a fielder holds the ball or throws to a wrong base. Ordinarily, if the runner keeps going, the official scorer should credit a run batted in; if the runner stops and takes off again when the runner notices the misplay, the official scorer should credit the run as scored on a fielder's choice.