Former RBI governor Raghuram Rajan may become IMF Managing director

The news dailies in England has reported that former Reserve bank of India governor Raghuram Rajan may become the managing director of the International Monetary Fund (IMF).

His is name is considered to the post as Christine Lagarde has resigned from the post earlier in the last week. She was nominated as the European Central Bank President by the European Council. Her resignation takes effect from September 12.

The new managing director of the IMF must be a person outside of Europe and America. England has officially announced that will support Rajan for the post. Rajan, who currently works as the professor at Chicago University is also considered by the British government for the post of governor of Bank of England.