The first term for RBI Governor D Subbarao was announced by finance minister Pranab Mukherjee at a press conference on September 1, 2008. His predecessor, YV Reddy, too, was introduced to the office by then finance minister Jaswant Singh. The extension for Subbarao was however announced by the PMO, and it did not even say if the appointments committee of the Cabinet, which is supposed to clear all top level government and public sector appointments, had met to clear the extension. Was it a convenient coming together of the global turmoil and the appointment hour that pushed the extension through?
FE
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