The Government of India today approved the extension of the term of Dr. D. Subbarao as the Governor of the Reserve Bank of India. Dr. Subbarao’s term has been extended for a period of two years with effect from September 5, 2011 up to September 4, 2013.
Dr. Subbarao was appointed the Governor of the Reserve Bank in September 2008 for a period of three years. Dr. Subbarao took over as the 22nd Governor of the Reserve Bank on September 5, 2008. His term was up to September 4, 2011.
Commenting upon his re-appointment, Dr. Subbarao said, “I am happy that the Government has reposed its confidence in me at this difficult juncture in the world economy. I look forward to working with a great team in the Reserve Bank to meet the many challenges ahead.”