The Union finance secretary, Dr Duvvuri Subbarao, an Andhra Pradesh cadre officer from Eluru, was appointed governor of the Reserve Bank of India on Monday. He will take over on September 5 when Dr Y. Venugopal Reddy demits office after the completion of his term of five years.
Dr Subbarao, a 1972 batch officer, has been appointed for three years. An IITian from Chennai and topper of the 1972 civil services batch, he did his PhD from Andhra University on the flow of funds to states. He served for about five years at the World Bank, first as director in Ethiopia and then in Washington.
Dr Subbarao is a prolific writer, though he restricts his writings to finance, his pet subject, and an athlete.