Raghuram Rajan
An economist who warned of global financial risks years before the 2008 crisis and later steadied India's economy as a reform-minded central bank governor.
Born 1963 (age 63)·Indian economist and former governor of Reserve Bank of India·Birthday: February 3·Baby Boomers
Biography
Raghuram Rajan possesses the rare distinction of being the Cassandra who was right. At a 2005 conference honoring Alan Greenspan, the then-IMF chief economist presented a paper warning that financial innovation had made the world riskier, a view met with skepticism from an audience of celebrants. When crisis hit, his foresight was validated. A University of Chicago finance professor with a deep, scholarly understanding of banking, he was called home to India in 2013 to helm the Reserve Bank during a period of currency volatility and high inflation. As governor, he was a steady, intellectual force, taming inflation, stabilizing the rupee, and advocating for stronger bank balance sheets with a clear-eyed focus on long-term stability over short-term popularity. His tenure, though cut short after three years, is remembered for its professional integrity and for introducing a new era of transparency and communication in Indian monetary policy.
Baby Boomers
1946–1964
The largest generation in history at the time. Shaped by postwar prosperity, the Vietnam War, the sexual revolution, and Watergate. They questioned every institution their parents built — then ran them.
Raghuram was born in 1963, placing them squarely in the Baby Boomers. The events that shaped this generation — postwar prosperity, civil rights, Vietnam, and the counterculture — shaped the world they entered and the choices available to them.
#1 When Raghuram Was Born
The biggest hits of 1963
#1 Movie
Cleopatra
Best Picture
Tom Jones
#1 TV Show
Beverly Hillbillies
Raghuram's Life & Times
The world at every milestone
1963Born
JFK assassinated in Dallas; Martin Luther King's 'I Have a Dream' speech
Gas: $0.31/galHome: $13,100Min wage: $1.25/hrPresident: Lyndon B. Johnson"Sugar Shack" — Jimmy Gilmer & The FireballsBest Picture: Tom Jones
1968Started school
Martin Luther King Jr. and Robert Kennedy assassinated
Gas: $0.34/galHome: $14,950Min wage: $1.60/hrPresident: Lyndon B. Johnson"Hey Jude" — The BeatlesBest Picture: Oliver!
1976Became a teenager
Apple Computer founded; US bicentennial
Gas: $0.59/galHome: $29,300Min wage: $2.30/hrPresident: Gerald Ford"Silly Love Songs" — WingsBest Picture: Rocky
1979Could drive
Iran hostage crisis begins; Three Mile Island accident
Gas: $0.86/galHome: $37,900Min wage: $2.90/hrPresident: Jimmy Carter"My Sharona" — The KnackBest Picture: Kramer vs. Kramer
1981Could vote
MTV launches; first Space Shuttle flight; AIDS identified
Gas: $1.31/galHome: $52,300Min wage: $3.35/hrPresident: Ronald Reagan"Bette Davis Eyes" — Kim CarnesBest Picture: Chariots of Fire
1984Turned 21
Apple Macintosh introduced
Gas: $1.13/galHome: $59,800Min wage: $3.35/hrPresident: Ronald Reagan"When Doves Cry" — PrinceBest Picture: Amadeus
1993Turned 30
European Union officially established
Gas: $1.11/galHome: $86,600Min wage: $4.25/hrPresident: Bill Clinton"I Will Always Love You" — Whitney HoustonBest Picture: Schindler's List
2003Turned 40
US invades Iraq; Human Genome Project completed
Gas: $1.59/galHome: $146,000Min wage: $5.15/hrPresident: George W. Bush"In Da Club" — 50 CentBest Picture: The Lord of the Rings: The Return of the King
2013Turned 50
Edward Snowden reveals NSA surveillance programs
Gas: $3.53/galHome: $152,800Min wage: $7.25/hrPresident: Barack Obama"Thrift Shop" — Macklemore & Ryan LewisBest Picture: 12 Years a Slave
2023Turned 60
ChatGPT goes mainstream; Israel-Hamas war begins
Gas: $3.52/galHome: $361,600Min wage: $7.25/hrPresident: Joe Biden"Flowers" — Miley CyrusBest Picture: Oppenheimer
2026Age 63 today
Gas: $3.91/galPresident: Donald Trump
Key Achievements
- Served as the 23rd Governor of the Reserve Bank of India, stabilizing the currency and bringing inflation under control.
- As Chief Economist at the IMF (2003-2006), he presciently warned of growing risks in the global financial system.
- Awarded the Fischer Black Prize, given to the top financial economist under age 40, in 2003.
- Authored the influential book 'Fault Lines,' which won the Financial Times Business Book of the Year award in 2010.
Did You Know?
He is a permanent resident of the United States but holds only Indian citizenship.
Rajan is an accomplished guitarist and has performed with a rock band formed by other economists.
He co-wrote a book titled 'Saving Capitalism from the Capitalists' with fellow economist Luigi Zingales.
Before his RBI role, he was the chief economic advisor to the Government of India.
“The job of the central bank is to take away the punch bowl just as the party gets going.”
