India appoints Raghuram Rajan as next central bank governor

India's chief economic adviser Raghuram Rajan speaks during an interview with Reuters in New Delhi on Monday, March 11, 2013. The Indian government has appointed Mr Rajan, the chief economic adviser in the finance ministry, to be the next governor of
India's chief economic adviser Raghuram Rajan speaks during an interview with Reuters in New Delhi on Monday, March 11, 2013. The Indian government has appointed Mr Rajan, the chief economic adviser in the finance ministry, to be the next governor of the Reserve Bank of India for a three-year term, a statement by the finance minister said on Tuesday, Aug 6, 2013. -- FILE PHOTO: REUTERS

NEW DELHI (REUTERS) - The Indian government has appointed Mr Raghuram Rajan, the chief economic adviser in the finance ministry, to be the next governor of the Reserve Bank of India for a three-year term, a statement by the finance minister said on Tuesday.

He will replace Mr Duvvuri Subbarao, whose tenure ends on Sept 4 after five years.

Mr Rajan joined the Indian government last August, having previously been chief economist at the International Monetary Fund and a professor at the University of Chicago.