India named a surprise choice as the new head of the nation’s central bank Monday to replace outgoing governor Yaga Venugopal Reddy, reports the Financial Times.
Duvvuri Subbarao, the former finance secretary, takes the helm at the Reserve Bank of India as the country battles high inflation and slowing economic growth.
The 59-year-old previously served as an economic adviser to Prime Minister Manmohan Singh. He also has worked for the World Bank, as the lead economist on public finance in Africa and East Asia.
He holds a masters in economics from Ohio State University and a doctorate from Andhra University.