To stop rupee from plunging is certainly a task for a superhero and the country seems to have found one in Raghuram Rajan, the new Governor of the Reserve Bank of India (RBI).

Rupee has stopped falling. In fact, it has appreciated by nearly 4% since the day Rajan took over RBI. The Indian equity markets also jumped with joy as foreign investors started pumping money back into the system.

Who is Raghuram Rajan?

India's second-youngest RBI chief, He was appointed as the 23rd Governor of the Reserve Bank of India on 6th of Aug, 2013 for a term of three years. He took over from Dr. D Subbarao, on September 5, 2013.

He is known as an Economist with an Rockstar appeal and is among the Top 10 Economists of the World. He was one of the First economists to predict the 2008 Recession.

Rajan won the Director's Gold Medal for best all-round achievement at IIT Delhi and was also a gold medallist at IIM Ahmedabad. He received a PhD in Management from the MIT in 1991 for his thesis titled "Essays on Banking".

Raghuram Rajan had warned in a 2005 paper of the risks that could lead to a major global economic downturn. He was heavily criticized for this. Former U.S. Treasury Secretary and former Harvard President Lawrence Summers called his warnings as misguided and Rajan a luddite. But after 2008, even The Wall Street Journal accepted his ideas.

Awards

Raghuram Rajan has received several awards in past. He was the inaugural recipient of the Fischer Black Prize awarded by the American Finance Association for contributions to the theory and practice of finance by an economist under age 40.

In a 2011 poll in The Economist,  Dr. Raghuram Rajan was ranked by his peers as the economist with “the most important ideas for a post-crisis world”. He was also awarded with Infosys Science Foundation award in the same year.

In 2013, the Center for Financial Studies (CFS) has awarded the 5th Deutsche Bank Prize in Financial Economics to Raghuram G. Rajan for his highly influential contributions in a remarkably broad range of areas in financial economics

Publications

Rajan has a highly acclaimed track of work record. He published Saving Capitalism from the Capitalists,along with Chicago Booth professor Luigi Zingales in 2004.

In 2010, he published Fault Lines: How Hidden Fractures Still Threaten the World Economywhich won the Financial Times and Goldman Sachs Business Book of the Year Award for 2010.

In 2012, he published The True Lessons of the Recession; The West Can’t Borrow and Spend Its Way to Recovery.