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Duvvuri Subbarao


About Dr. Duvvuri Subbarao

Duvvuri Subbarao is the Governor of Reserve Bank of India, the Central Bank for India. He is an Indian Economist, Central Banker and Civil Servant.

Professional Biography

Dr. Subba Rao belongs to the 1972 batch of the IAS (Andhra Pradesh cadre).

Dr. Subbarao has vast experience on issues in public finance and has held important posts in this area. He has worked as Secretary to the Prime Minister's Economic Advisory Council.

Dr. Subbarao studied at IIT Kanpur and was one of the first IIT products to join the civil services. Subsequent to joining the IAS, he did his MS in Economics from Ohio State University (1978) and was a Humphrey Fellow at MIT during 1982-83. He has a Ph. D in Economics. He served as the Secretary, Department of Economic Affairs in the Ministry of Finance and later as the Finance Secretary in the Ministry of Finance.

Positions served

YearPosition
1988-1993Joint Secretary, Department of Economic Affairs, Ministry of Finance, Government of India
1993-1998Finance Secretary, Government of Andhra Pradesh
1994-2004Lead Economist, World Bank
2005-2007Prime Ministers' Economic Advisory Council
2007Finance Secretary, Government of India
2008 - till dateGovernor of Reserve Bank of India

As Governor of Reserve Bank of India

Dr. Subbarao took charge as the Governor of RBI from Dr. Y.V. Reddy after the later demits his office on September 5, 2008. Taking charge, he said his immediate job is to contain inflation which is at 12.34 per cent. He said the steps taken by RBI are moderating inflation but it is too early to confirm it.

In May 09, he suggested banks to invest in newer technologies.

In September 09, he was at a Government school in Karnataka where he taught the 500-odd students of the school about the functions of the central bank.

In June 2010, he said that he was not surprised by the whopping growth rate of 7.4% as it had been predicted.

During the global economic crisis in 2011, Subbarao announced that India is ready to extend support to the International Monetary Fund (IMF). He attended a meeting of finance ministers and central bank chiefs of the BRICS (Brazil, Russia, India, China and South Africa) nations that met at Washington, USA.

In December 2011, Duvvuri Subbarao planned to make banking accessible to villages of the country with over 2000 population by March 2012. He met with West Bengal Chief Minister Mamata Banerjee regarding the upgradation of entrepreneur centres in the state.

Personal Biography

Duvvuri Subbarao was born in Eluru in West Godavari, Andhra Pradesh on August 11, 1949. He did his schooling in Korukonda Sainik School. After finishing his schooling, Subbarao graduated in B.Sc Honors (Physics) from the Indian Institute of Technology Kharagpur in the class of 1969. During his graduation, Subbarao received Director' Gold Medal.

He received his Masters degree (M.Sc) from the same Indian Institute of Technology Kharagpur.

He topped the IAS examination in 1972 and was assigned the Andhra Pradesh cadre.

He graduated with a Masters degree in economics from the Ohio State University, United States in 1978. He later studied Quantitative Economic Modelling by joining the prestigious Humphrey Fellowship program at Massachusetts Institute of Technology. He became a Humphrey Fellow at MIT in 1982.

Subbarao received a Doctorate Ph.D. in Economics from the Andhra University in 1998. He did research in Fiscal reforms at the sub-national level.

Duvvuri Subbarao in News

NUS Business School Launches Programme to Develop Asian Leadership Pipeline for the Finance Sector
As Asia grows, a looming shortage of senior leaders among the region's financial institutions is expected

Former BOJ Governor Masaaki Shirakawa Appointed Distinguished Visiting Fellow at NUS Business School
Mr Masaaki Shirakawa, former Governor of the Bank of Japan (BOJ), will be appointed as Distinguished Visiting Fellow at the National University of Singapore (NUS) Business School from 25 August 2014 to 10 September 2014. Mr Shirakawa is also a Special Visitor under the Monetary Authority of Singapore (MAS) Eminent Visitor Programme.

Former India Central Bank Governor Dr Duvvuri Subbarao Appointed Distinguished Visiting Fellow at NUS Business School
Dr Duvvuri Subbarao, former Governor of the Reserve Bank of India and former Finance Secretary to the Government of India, will be appointed as Distinguished Visiting Fellow at the National University of Singapore (NUS) Business School with effect from 2 May 2014, for a period of one year.

U.S. Treasury Secretary to visit India
The U.S. Department of the Treasury has announced that Treasury Secretary Tim Geithner will visit India on June 27-28, 2012.

Reserve Bank cuts CRR by 50 basis points, interest rates unchanged
The Reserve Bank of India (RBI) has lowered the Cash Reserve Ratio (CRR) by 50 basis points with effect from January 28, but kept the short-term lending rate unchanged in view of the inflationary concerns.

Andhra Pradesh News on December 20, 2011
Andhra Pradesh News and Headlines on December 20, 2011.

To monitor bank services in Tripura, Reserve Bank opens new office
The Reserve Bank of India (RBI) has set up sub office bank operations in Agartala to monitor banking services in the region better.

RBI Governor meets Pranab Mukherjee ahead of policy review
Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Friday met Union Finance Minister Pranab Mukherjee ahead of a policy review.

PM to meet RBI Governor to discuss monetary measures to curb inflation
The Prime Minister, Dr. Manmohan Singh will meet Reserve Bank of India (RBI) Governor D Subbarao over the possibility of further monetary steps to check price rise here today.

India to focus on expanding ties with France: Mukherjee
India's Finance Minister Pranab Mukherjee has said that his meeting with his French counterpart Christine Lagarde were quite satisfactory and India would focus on expanding ties with France.

RBI Governor calls for inflation to be curbed to boost growth
Expressing concern over the rate of inflation in the country, Reserve Bank of India (RBI) Governor Duvvuri Subbarao has said that it needed to be curbed to achieve growth targets.

Increase in policy rates a necessary step to tame inflation: Pranab Mukherjee
Union Finance Minister Pranab Mukherjee on Tuesday said the sharp increase in repo rate and reverse repo rate by 50 basis points was a necessary step to tame inflation.

RBI raises policy rates by 50 basis points
Reserve Bank of India (RBI) on Tuesday today raised repo and reverse repo rates by 50 basis points each for the current fiscal.

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