Subir Gokarn
Encyclopedia
Subir Vithal Gokarn, is one of the four Deputy Governors of the Reserve Bank of India
(equivalent of U.S. Federal Reserve
)along with Anand Sinha, K C Chakrabarty and H.R.Khan .
Appointed by the Government Of India on November 19,2009 for a three year term beginning November 24,2009 , he succeeded Rakesh Mohan
after the latter took up an assignment for six months and joined the Stanford Center for International Development at Stanford University
, US .
Prominent economists like Jahangir Aziz (Chief Economist, JP Morgan) and Dr.Arvind Virmani ( Senior Economic Advisor -Ministry of Finance (India)
) were also considered for the post that was eventually handed to Dr.Gokarn after a decision by a search panel headed by Duvvuri Subbarao
and comprising Janki Ballabh (former SBI Chairman) and Vepa Kamesam (former Deputy Governor- RBI) .
Prior to his appointment as the Deputy Governor of the Reserve Bank of India
, Dr.Gokarn was the Chief Economist of global rating agency Standard and Poor's (S&P ) Asia-Pacific since August 2007 . He is the head of CRISIL's Research and Information business and also a nominee Board Member of the State Bank Of India
.
Appointed at the age of 49, Dr.Gokarn is one of the youngest Deputy Governors of RBI in its 76 year history and will supervise the Monetary Policy Department,Department of Statistics and Information Management, Department of Economic Analysis and Policy,Credit Guarantee Corporation, Department of Communication and Deposit Insurance and also represent the Reserve Bank at the G-20 Deputies’ forum.
of Cleveland, Ohio. . He is a Fulbright Scholar and spent an academic year at the Economic Growth centre at Yale University
,USA on a Fulbright Research Fellowship which he was awarded in 1997.
He was the Chief Economist, Centre for Economic Research and Executive Director of CRISIL
Ltd. till August 2007 and then served as the Chief Economist at Standard and Poor's (S &P) Asia Pacific (which acquired a majority stake in CRISIL in 2005) till his appointment in the RBI in 2009 and has been a Member on the Boards of organisations like Global Data Services of India Ltd, EconoMatters Ltd and CRISIL MarketWire Ltd.
He has also served as the former Chairperson of the Economic Affairs Committee of the ASSOCHAM
.
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
(equivalent of U.S. Federal Reserve
Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
)along with Anand Sinha, K C Chakrabarty and H.R.Khan .
Appointed by the Government Of India on November 19,2009 for a three year term beginning November 24,2009 , he succeeded Rakesh Mohan
Rakesh Mohan
Rakesh Mohan is an Indian economist and former Deputy Governor of Reserve Bank of India. He is presently the Vice Chairperson of Indian Institute for Human Settlements., and in April 2010, he joined Nestle India, as a Non-executive Director....
after the latter took up an assignment for six months and joined the Stanford Center for International Development at Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, US .
Prominent economists like Jahangir Aziz (Chief Economist, JP Morgan) and Dr.Arvind Virmani ( Senior Economic Advisor -Ministry of Finance (India)
Ministry of Finance (India)
The Ministry of Finance is an important ministry within the Government of India. It concerns itself with taxation, financial legislation, financial institutions, capital markets, center and state finances, and the Union Budget....
) were also considered for the post that was eventually handed to Dr.Gokarn after a decision by a search panel headed by Duvvuri Subbarao
Duvvuri Subbarao
Duvvuri Subbarao is an Indian economist, central banker, and civil servant. He is the 22nd and current Governor of Reserve Bank of India, serving under Prime Minister Manmohan Singh....
and comprising Janki Ballabh (former SBI Chairman) and Vepa Kamesam (former Deputy Governor- RBI) .
Prior to his appointment as the Deputy Governor of the Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
, Dr.Gokarn was the Chief Economist of global rating agency Standard and Poor's (S&P ) Asia-Pacific since August 2007 . He is the head of CRISIL's Research and Information business and also a nominee Board Member of the State Bank Of India
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
.
Appointed at the age of 49, Dr.Gokarn is one of the youngest Deputy Governors of RBI in its 76 year history and will supervise the Monetary Policy Department,Department of Statistics and Information Management, Department of Economic Analysis and Policy,Credit Guarantee Corporation, Department of Communication and Deposit Insurance and also represent the Reserve Bank at the G-20 Deputies’ forum.
Education
Dr.Gokarn completed his B.A in Economics (Hons.) from St Xavier’s College, Mumbai, M.A in Economics (Hons.) from Delhi School of Economics and pursued his Ph.D in Economics from Case Western Reserve UniversityCase Western Reserve University
Case Western Reserve University is a private research university located in Cleveland, Ohio, USA...
of Cleveland, Ohio. . He is a Fulbright Scholar and spent an academic year at the Economic Growth centre at Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
,USA on a Fulbright Research Fellowship which he was awarded in 1997.
Past Appointments
Dr.Gokarn has previously held the position of Associate Professor at the Indira Gandhi Institute of Development Research(IGIDR) in Mumbai and then the Chief Economist and Industrial Finance Corporation of India (IFCI) Chair at the National Council of Applied Economic Research (NCAER) in New Delhi prior to his move to CRISIL.He was the Chief Economist, Centre for Economic Research and Executive Director of CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
Ltd. till August 2007 and then served as the Chief Economist at Standard and Poor's (S &P) Asia Pacific (which acquired a majority stake in CRISIL in 2005) till his appointment in the RBI in 2009 and has been a Member on the Boards of organisations like Global Data Services of India Ltd, EconoMatters Ltd and CRISIL MarketWire Ltd.
He has also served as the former Chairperson of the Economic Affairs Committee of the ASSOCHAM
ASSOCHAM
The ASSOciated CHAMbers of Commerce and Industry of India is the umbrella body of chambers of commerce in India. The organisation represents the interests of trade and commerce in India, and interacting with the Government of India on policy issues, and liaisoning with their international...
.