Government shortlists four names for RBI Governor’s post

The government has zeroed on four names for RBI’s top post and is likely to appoint an economist to succeed Raghuram Rajan.

Four contenders-former RBI deputy governors Rakesh Mohan and Subir Gokarn, and present deputy governor Urjit Patel- are in the running for the post.

Mohan has served the RBI in different stints and also knows the government quite well. He was also the secretary at the department of economic affairs and chief economic adviser.

He was India's executive director at the International Monetary Fund (IMF) for a three-year term beginning November 2012.

Meanwhile, Gokarn is executive director on the IMF board and has also served Standard and Poor’s as chief Asia-Pacific economist.

Basu was chief economic advisor to United Progressive Alliance government.

It is likely that World Bank Chief Economist Kaushik Basu and former chief economic adviser Ashok Lahiri will also be considered.

"The government is more keen on appointing an economist as the RBI governor. Bureaucrats are not under active consideration," a senior official aware of initial discussions told ET.

The official did not rule out Chief Economic Adviser Arvind Subramanian’s name from the list.

The final name, which will be decided by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley, is expected to be announced next month.

RBI Governor Rajan, whose tenure ends on September 04, announced he will not go for second term and would be returning to academics.