Finance Secretary Duvvuri Subbarao will be next RBI Governor
The central government appointed D Subbarao as the new governor of RBI (Reserve Bank of India) on Monday. Duvvuri Subbarao is finance secretary since 1st May 2007 and now he will succeed Dr. Y V Reddy. The finance minister P Chidambaram told reporters that government has taken decision to appoint Duvvuri Subbarao as new governor of Reserve Bank of India. He further added that D Subbarao is appointed only for a three-year period. However his working period may be extended for next two year according RBI Act.
Dr. Duvvuri Subbarao is a 1972 batch officer of IAS. He will take over as next RBI governor from September 5. Dr Y V Reddy’s term is ending on September 5. Duvvuri Subbarao’s career graph is as:
1972 - IAS Officer
1988 July 15 - Director in ministry of finance & company affairs
1990 June 4 - Joint secretary Planning Commission
2005 March 2 - Secretary to Planning Commission
2007 May 1- Finance Secretary
2008 September - RBI Governor
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