The government is likely to announce the next Governor of the Reserve Bank of India later this month, after Prime Minister Narendra Modi returns from his four-nation Africa trip.
“A lot of work has already been done for appointing the next governor,” said a senior government official. Modi will leave for Africa on July 7 on a five-day visit.
Sources indicated that the government is likely to choose a professional banker or economist for the top job at the RBI and is not inclined to appoint a bureaucrat.
Chief contenders to the position are being seen as former deputy governors of the RBI Subir Gokarn and Rakesh Mohan as well as serving RBI Deputy Governor Urjit Patel. RBI Governor Raghuram Rajan had last month announced his decision to not seek a second term and return to academia when his term ends on September 4.
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