Govt appoints pro-DeMo K Subramanian as CEA

The Centre on Friday appointed Krishnamurthy Subramanian, a strong supporter of Prime Minister Narendra Modi's 2016 demonetisation move, as the Chief Economic Adviser for a tenure of three years.

Subramanian, who also has links with former RBI Governor Raghuram Rajan, currently serves as Associate Professor of Finance and Executive Director for the Centre for Analytical Finance at the Indian School of Business at Hyderabad.

His appointment comes after the post fell vacant after former CEA Arvind Subramanian quit the government mid-way his tenure in September. Subramanian has written quite a few pieces praising the demonetisation move of the government as opposed to his predecessor, who wrote a book flaying the move but only after he quit.

Subramanian obtained his MBA and PhD in financial economics at the University of Chicago Booth School of Business under Rajan's guidance. Rajan too served as CEA before being appointed as the RBI Governor under the UPA regime.

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Considered as the chief architects of corporate governance and banking reforms in India, Subramanian's tenure at the outgoing NDA government starts at a time when the public sector banks are facing one of the worst non-performing asset problem.

A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Subramanian is one of the world’s leading experts in banking, corporate governance and economic policy.
His has rendered his services on the expert committees on corporate governance for the Securities and Exchange Board of India (SEBI) and on governance of banks for the Reserve Bank of India (RBI).

Before beginning his academic career, Subramanian worked as a consultant with JPMorgan Chase in New York. He also served in a management role in the elite derivatives research group at ICICI Ltd.

He holds a bachelor’s degree in electrical engineering from the Indian Institute of Technology in Kanpur.

Subramanian has also served on the finance faculty at Goizueta Business School at Emory University in the United States.