(Image source from: Rock Star economist Raghuram in hot seat)

At present, the chair of the RBI chief is the hottest seat there is. Taking control is 'Rock star' economist Raghuram Rajan, who had been appointed as the 23rd RBI governor on 4th September. Rajan has taken the steering wheel at a time when the Indian economy is haplessly derailing.

India is currently in the midst of a serious crisis, not experienced in two decades. Even as the government tried to stabilize the Rupee, the currency had plunged nearly 20% since May this year. Despite the nation being ranked as Asia's 3rd largest economy, India needs treatment from the present illness.

Raghuram Rajan is hailed as a rock star for being an outspoken man with many bright ideas. The 50 year old former chief economist of the International Monetary Fund (IMF) predicted the 2008 global financial crisis many years before it happened.

Cut to the present, he has some 'out of box' ideas to revive the Rupee and bring some cheer to the suffering country. As someone against Indian corruption and bureaucracy, Rajan has a few policy options to get the economic situation back on track.

He will also be able to clear most of the confusion the Central Bank created with short term policies in a bid to stabilize the Rupee. Rajan is being compared to Bank of Japan governor Haruhiko Kuroda, who brought several significant changes in Japan earlier this year, just weeks after assuming office. Will Raghuram Rajan be India's savior?

(AW: Sruthi)