Raghuram Rajan, the former governor of Reserve Bank of India (RBI), has refuted reports that he has been running as one of the contenders to head Bank of England.  Raghuram Rajan is currently working as the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago. The term of Mark Carney, the current governor, is scheduled to end in June 2019. After three centuries, Carney became the first person from outside to take the role in 2013.

Rajan was quoted as saying to Reuters “I have a very good job at the University of Chicago and I actually am an academic, not a professional central banker. I am very happy where I am… “I think I’ve said all I can say. I’m not going to apply for a job anywhere, absolutely.”  Rajan told reporters after an event held in his University.

Other five names that were earlier reported to be suitable for the post included Minouche Shafik, director of the London School of Economics, Andy Haldane chief economist at Bank of England, Shriti Vadera, chair of Santander UK, Ben Broadbent, deputy governor for monetary policy and Andrew Bailey, chief executive of the Financial Conduct Authority.

Rajan was appointed to head the banking regulator in India in 2013.  Prior to this, Raghuram Rajan has worked as the chief economist at the International Monetary Fund.  He became popular after he forewarned about the financial crisis in the US in 2005.

It was earlier reported that Rajan has been running for the post of the Governor of Bank of England.  Taken in by the fake news, the Congress MP, Shashi Tharoor, recently tweeted about Raghuram Rajan been appointed as the Governor of the Bank of England. The Congress MP in another tweet accepted that he had fallen prey to fake news.