After his stint as the Reserve Bank Governor, which university (in the USA) did Raghuram Rajan join as professor of Finance?
Booth School, Chicago
Understanding Raghuram Rajan's Post-RBI Role
This question asks about the academic institution Raghuram Rajan joined after concluding his term as the Governor of the Reserve Bank of India (RBI). Raghuram Rajan is a renowned economist who served as the 23rd RBI Governor from September 2013 to September 2016. Before and after his tenure at the RBI, he has had a distinguished career in academia.
Raghuram Rajan's Return to Academia
Following his term as the RBI Governor, Raghuram Rajan returned to his academic career in the United States. He rejoined a university where he had previously served as a professor.
The specific institution he returned to as a Professor of Finance is located in Chicago.
Booth School of Business, University of Chicago
Raghuram Rajan rejoined the University of Chicago's Booth School of Business. He holds the title of Distinguished Service Professor of Finance at this institution. His return marked a continuation of his long-standing association with the university prior to his public service in India and during a leave of absence while he was Governor.
Let's look at the options provided:
- Harvard Business School, Boston: While a prestigious institution, Raghuram Rajan is not primarily associated with Harvard after his RBI term.
- Berkeley Haas, California: Another leading business school, but not the one Raghuram Rajan rejoined.
- Booth School, Chicago: This aligns with the fact that he returned to the University of Chicago Booth School of Business.
- Columbia Business School, New York: Yet another prominent business school, but not his post-RBI destination.
Based on Raghuram Rajan's known career path, he returned to the Booth School at the University of Chicago after his governorship.
Revision Table: Key Facts about Raghuram Rajan
| Aspect | Detail |
|---|---|
| RBI Governor Term | 2013 - 2016 |
| Post-RBI Academic Institution | Booth School of Business, University of Chicago |
| Location | Chicago, USA |
| Role | Professor of Finance |
Additional Information: Raghuram Rajan's Career
Raghuram Rajan has had a diverse career spanning academia, international financial institutions, and central banking. Before becoming RBI Governor, he served as the Chief Economic Adviser to the Government of India. Prior to that, he was the Chief Economist at the International Monetary Fund (IMF).
His academic work, particularly his research on financial crises, has been highly influential. He gained significant attention for his paper "Has Financial Development Made the World Riskier?", presented in 2005, which warned of potential risks in the financial system that contributed to the 2008 global financial crisis.
His return to the Booth School reinforced his commitment to academic research and teaching after a period of intense public service.
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Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?
1. It decides the RBI's benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.
Select the correct answer using the code given below:
The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to
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(2) To make the people’s deposits with banks safe and liquid
(3) To prevent commercial banks from making excessive profits
(4) To force the banks to have sufficient vault cash to meet their day-to-day requirements
Select the correct answer using the code given below.
If the interest rate is decreased in an economy, it will
The lowering of Bank Rate by the Reserve Bank of India leads to:
