....Even more important than being CEA is where Rajan could be headed next. The story goes that in 2008 when the search was on for a governor of India’s Reserve Bank of India (RBI) to replace YV Reddy, Manmohan Singh, a former guv himself, received a pressing recommendation from Montek. That man was Rajan. Manmohan was impressed, but he thought against someone who hasn’t worked in India. So, he let authorized an offer for Deputy Governor, a position Rajan politely passed over. .....
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