RBI chief called to meeting with PM, FM; race for next RBI Governor heats up

 Reserve Bank of India Governor Duvvuri Subbarao cancelled an appearance at a Mumbai college on Monday because he was called to a meeting with the finance minister and prime minister, according to the organisers of the event.

Subbarao was due to meet with Finance Minister P. Chidambaram and Prime Minister Manmohan Singh, an official at Maharshi Dayanand College of Arts, Science & Commerce Mumbai, told the audience at an event where Subbarao was due to deliver a speech.

RBI officials have confirmed the Governor meet with the PM & FM though details of the meet is yet to be ascertained. 

The meet gains significance as the race for the next RBI Governor enters the last stage with Subbarao's term ending in September.Planning Commission Member Saumitra Chaudhuri, Economic Affairs Secretary Arvind Mayaram and Chief Economic Advisor Raghuram Rajan are said to be the lead contendors for the post.The probability of the govt providing an extension to the Subbarao for a year to maintain continuity at a difficult economic scenario is also a possibility that cannot be ruled out.