India in search for new RBI governor as Subbarao set to leave in September

subbarao-reservebankofindia
Duvvuri Subbarao

The Reserve Bank of India's (RBI) governor, Duvvuri Subbarao, will step down from the helm of the central bank in September this year, with no clear favourite yet in the running to take over from him.

Subbarao took up the governorship in September 2008 after a stint as finance secretary in the Indian government, initially for a three-year term as the global economy grappled with an unprecedented financial crisis. He was given a two-year extension in 2011, which is set to expire in September. 

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