The Fischer Black prize, a biannual prize modelled along the lines of the Fields' medal in Mathematics and the Clark' medal in economics, recognises outstanding contributions to the field of finance by a person under 40-years, an ISB release on Tuesday said.
The award was set up in honour of Fischer Black, who was co-inventor of the Nobel prize winning Black Scholes Metron options-pricing model, it said.
Raghuram shares the award with Joseph L Gidwitz, a professor of finance at the University of Chicago, the release added.
