Rajan gets a pat on the back

C Rangarajan, chairman of the Prime Minister's Economic Advisory Council (PMEAC), said on Tuesday the Reserve Bank of India governor-designate, Raghuram Rajan, knew his role pretty well, as he had been involved in policy making for the past year.

Rajan, who is set to take charge as RBI governor on Wednesday, was the chief economic advisor in the finance ministry for a little over a year. Rangarajan was the RBI governor during 1992-97.