All smiles: Relieved and happy Subbarao hands baton to Rajan

[caption id=“attachment_108475” align=“alignleft” width=“940”] Raghuram Rajan (L), newly appointed governor of Reserve Bank of India (RBI), hugs the outgoing governor Duvvuri Subbarao during the taking over ceremony at the bank’s headquarters in Mumbai[/caption]

[caption id=“attachment_108475” align=“alignleft” width=“940”] Raghuram Rajan (L), newly appointed governor of Reserve Bank of India (RBI) receives a bouquet from RBI deputy governor K C Chakrabarty after his arrival at the bank’s headquarters in Mumbai. Reuters[/caption]

[caption id=“attachment_108475” align=“alignleft” width=“940”] Rajan, 50, an economics professor who also served as chief economist at the International Monetary Fund, takes charge from D Subbarao.[/caption]

[caption id=“attachment_108475” align=“alignleft” width=“940”] Rajan takes oath as 23rd RBI governor. Reuters[/caption]

[caption id=“attachment_108475” align=“alignleft” width=“940”] The duo shook hands warmly and hugged after Rajan signed papers taking over as the 23rd Governor of the central bank. Reuters[/caption]

[caption id=“attachment_108476” align=“alignleft” width=“940”] Subbarao before handing over the baton to Rajan.Reuters[/caption]