RBI says Raghuram Rajan to take charge as governor on Wednesday

MUMBAI (Reuters) - The Reserve Bank of India said Raghuram Rajan, the former chief economist at the International Monetary Fund, will take charge as governor of the central bank on Wednesday, replacing Duvvuri Subbarao.

Rajan, who has most recently been an adviser at India's finance ministry, will step into the eye of the storm roiling the country's economy and become the new chief defender of a nose-diving rupee.

(Reporting by Rafael Nam; Editing by Sunil Nair)