Rajan, 50, an economics professor who also served as chief economist at the International Monetary Fund, took charge from D Subbarao.
Bhopal-born Rajan has always been a high achiever: A gold medalist at both IIT Delhi and IIM Ahmedabad, he went on to complete his PhD from the Massachusetts Institute of Technology.
He became the Economic Counselor and Director of Research (Chief Economist) of the International Monetary Fund in September 2003- the youngest ever to be appointed to this post.
In 2003, he also won the first Fischer Black Prize, which is awarded to the most promising economist under the age of 40, by the American Finance Association. He is also a Professor of Finance at the Chicago University's Booth School of Business.