After RBI Governor Raghuram Rajan announced he will not continue for the second term, the government immediately started looking for someone who would fit in Rajan’s shoes perfectly.Rajan, who is considered one of the most influential economists and a person of high calibre, has plans to return to academia.
Meanwhile, Finance Minister Arun Jaitley said the government would soon zero on Rajan’s successor as his term ends on September 04.
Industry experts say whosoever will succeed Rajan will have to carry on with his agenda of cleaning up the bad debt from Indian banking system.
READ: 10 points from Raghuram Rajan's letter to the RBI
Also, the new governor will have to work in tandem with monetary policy committee, once formed. The new chief will also have to deal with foreign currency deposits, payments banks, and also have a good rapport with the Indian government while also protecting the credibility of the RBI.
The government has shortlisted four candidates who fit the bill and one of them will succeed Rajan.
Here is a look at the four contenders and their past record that will help the central bank.