Strik­ing a new note: This ex­pert in fi­nance is a Car­natic singer, too

The Hindu Business Line - - NEWS - G NAGA SRID­HAR

An in­spir­ing teacher, pas­sion­ate re­searcher, Car­natic mu­si­cian and a singer. This is how the In­dian School of Busi­ness (ISB) com­mu­nity de­scribes the 47-year-old Kr­ish­na­murthy Subra­ma­nian who has been ap­pointed as the new Chief Eco­nomic Ad­vi­sor to the Min­istry of Fi­nance.

Subra­ma­nian, who is an As­so­ciate Pro­fes­sor of Fi­nance and Ex­ec­u­tive Di­rec­tor, Cen­tre for An­a­lyt­i­cal Fi­nance, and an alum­nus of the Univer­sity of Chicago, is also widely known be­yond the aca­demic uni­verse of ISB as an ex­pert in fi­nance and bank­ing.

His rise in aca­demics and ap­plied re­search has been steady since he joined the busi­ness school as an As­sis­tant Pro­fes­sor of fi­nance. Af­ter his pro­mo­tion as an as­so­ciate pro­fes­sor in 2015, he was made Ex­ec­u­tive Di­rec­tor of the Cen­tre for An­a­lyt­i­cal Fi­nance. In pre­vi­ous aca­demic roles, Subra­ma­nian served as the fi­nance fac­ulty at Goizueta Busi­ness School at Emory Univer­sity in the US.

Subra­ma­nian is not new to pol­icy-mak­ing ei­ther. He serves on the boards of Band­han Bank, Re­serve Bank of In­dia Acad­emy and the Na­tional In­sti­tute of Bank Man­age­ment.

Some of the key pan­els that rec­om­mended a wide range of bank­ing and mar­ket re­forms in the re­cent past have had him as one of their mem­bers.

He lent his ex­per­tise to the PJ Nayak Com­mit­tee on Gov­er­nance of Bank Boards and Uday Ko­tak Com­mit­tee on Cor­po­rate Gov­er­nance. Be­ing dubbed the youngest ex­pert to Kr­ish­na­murthy Subra­ma­nian have been ap­pointed as the CEA, Subra­ma­nian’s aca­demic cre­den­tials are sim­i­lar to those of for­mer RBI Gover­nor Raghu­ram Ra­jan. Subra­ma­nian did his Ph.D in fi­nance from the Booth School of Busi­ness, Univer­sity of Chicago, un­der the ad­vice of pro­fes­sor Luigi Zin­gales and Raghu­ram Ra­jan, who was a pro­fes­sor then.

But there is a view that Subra­ma­nian may not be as out­spo­ken as his teacher Ra­jan.

“This ap­point­ment of an ISB fac­ulty mem­ber to a very im­por­tant of­fice in the Gov­ern­ment of In­dia is very pres­ti­gious and we all should be proud of it,’’ says an elated Ra­jen­dra Sri­vas­tava, Dean, ISB.

It re­mains to be seen how Subra­ma­nian will leave his mark on pol­i­cy­mak­ing over the next three years at a time when banks and fi­nan­cial in­sti­tu­tions are fac­ing many chal­lenges, like in­crease in bad loans, and un­der­go­ing con­sol­i­da­tion.

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