Raghuram Rajan awarded with the Deutsche Bank Prize
Reserve Bank of India Governor Raghuram Rajan was awarded with the Deutsche Bank Prize for Financial Economics 2013. The award has been given in recognition to his academic contributions in macro economics research which influenced financial and macro-economic policies around the globe.
Raghuram Rajan revealed that 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. Raghuram Rajan also had forecasted the financial crises of 2008 in 2005, three years ahead of global financial crises.