Will RBI chief Subbarao be the next FM?

At the Annual General Meeting of Indian Merchants Chamber, the new president of the association, Niranjan Hiranandani, said a post was going to fall vacant in the finance ministry and it could well be filled by the current Reserve Bank of India Governor D Subbarao.

He said people at IMC would be pleased to see a knowledgeable person like him in North Block.

The governor had just made an elaborate presentation in defence of the central bank's decision to not succumb to industry's demand for rate cuts in the mid-quarter policy.

Although he took all policy-related questions head on, he chose not to comment on this one and managed to keep smiling as he listened.

Image: D Subbarao