Reserve Bank of India governor Raghuram Rajan was awarded on 27 September 2013 with the Fifth Deutsche Bank Prize for Financial Economics 2013.They gave this award in recognition of his macro economics research which influenced financial and macro-economic policies around the world.
Raghuram Rajan was chosen for the prize from more than 260 nominations from top universities, central banks and research centres in 37 countries.
While presenting the prize Jurgen Fitschen, Co-Chairman of the Management Board explained that Raghuram Rajan revealed the relationship between the financial sector and the rest of the economy is so complex and it is not good enough to simply look at the size of the financial sector in relation to the gross domestic product (GDP), as is done so often at present.
Jurgen Fitschen also explained that Raghuram Rajan also expected the financial crises of 2008 in 2005 three ahead of global financial crises.
About Deutsche Bank Prize
• The Deutsche Bank Prize in Financial Economic honors outstanding achievements in researching globally relevant questions of financial economics and macroeconomics.
• The Centre for Financial Studies (CFS) awards the prize bi-annually in partnership with Goethe University Frankfurt.
• The Deutsche Bank Prize is sponsored by the Deutsche Bank Donation Fund. It carries an endowment of 50000 Euro.
• The prize is one of the most generously endowed in the areas of financial economics and macroeconomics in Europe.
About Deutsche Bank
Deutsche Bank is a German global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt, Germany.
About Raghuram Rajan
• Raghuram Govinda Rajan is the current and the 23rd Governor of the Reserve Bank of India.
• He worked as chief economic adviser to India's Ministry of Finance .
• He acted as Chief economist at the International Monetary Fund from 2003 to 2007.
• He co-authored Saving Capitalism from the Capitalists with Luigi Zingales in 2003.
• He wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy published in 2010.For this book he won the Financial Times and Goldman Sachs Business Book of the Year Award for 2010.
Who: Raghuram Rajan
When: on 27 September 2013