Rakesh Mohan front-runner?

Reserve Bank of India Deputy Governor Rakesh Mohan has emerged as the front-runner to succeed Y Venugopal Reddy as the next governor of the RBI.

Mohan has had two meetings with Finance Minister P Chidambaram after he was called to New Delhi on Tuesday from the United States.

Mohan returned to Mumbai today after his meetings with the finance minister. A final decision on his appointment as the governor will be taken by Prime Minister Manmohan Singh.

Mohan did not have any meeting with the prime minister while he was in New Delhi.

After his meeting with the finance minister in North Block today, Mohan declined to comment on whether he was being considered for the post of the RBI governor. “Newspapers have to keep writing something on this,” he told Business Standard.

 

Reddy’s five-year tenure as RBI governor ends on September 5. The short list of candidates to succeed Reddy included Mohan and D Subba Rao, finance secretary. A third option being explored was to give an extension to Reddy.