RBI governor Raghuram Rajan has been named ‘Governor of the Year’ in the Central Banking Awards for 2015. Rajan responded saying this is a recognition of the part the Reserve Bank of India and its staff have been playing in bringing macroeconomic stability to the Indian economy, in creating more competition and new growth opportunities in the banking and financial markets, as well as in expanding financial inclusion. Rajan was one of three individuals to be honoured this year, with Jacques de Larosiere winning the Lifetime Achievement Award after a lengthy struggle for monetary order while Claudio Borio, head of the monetary and economic department at the Bank for International Settlements, was presented with the inaugural award for Economics in Central Banking, designed to recognise significant contributions to the field. The awards are instituted by the Central Banking Journal. Christopher Jeffery, editor of the magazine and chairman of the Central Banking Awards Committee said Rajan’s deep understanding of the root causes of economic problems, combined with an impressive leadership style, inspires confidence and has helped to transform perceptions about the vulnerabilities of the Indian economy.
