RBI governor Subbarao’s term extended

subbarao-reddy-rbi

The prime minister of India on Tuesday approved the extension of Duvvuri Subbarao's term as governor of the Reserve Bank of India (RBI).

Subbarao is set to serve for another two years, from September 5, 2011 until Sept 4, 2013.

When Subbarao was appointed in September 2008, the former finance secretary was a surprise choice for many. In July 2009, the governor said restoring growth to pre-crisis levels and de-mystifying the office of the governor were among his main objectives for his first term

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