Raghuram Rajan addresses a press conference in Mumbai on August 9, 2016 ( AFP / PUNIT PARANJPE)

Posts falsely claim Indian economist 'appointed Bank of England governor'

This article is more than one year old.
Published on May 20, 2022 at 06:54
Updated on May 20, 2022 at 07:03
2 min read
By Uzair RIZVI, AFP India

A photo of Indian economist Raghuram Rajan has been shared in multiple social media posts alongside a claim that he has been appointed as the Bank of England's governor. But the claim is false. Andrew Bailey is the current governor of the United Kingdom's central bank, and his term ends in 2028. Rajan, a professor at the University of Chicago, said in a 2019 interview that he had never applied for the job.

The claim was shared here by an India-based Facebook user on May 9, 2022.

"Mr Raghuram Rajan Appointed as governor, Bank of England, congratulations sir", reads the claim.

Screenshot of the misleading Facebook post, taken on May 19, 2022.

The claim was shared alongside a photo of Raghuram Rajan, an economist who served as the governor of India’s central bank between September 2013 and September 2016.

The Financial Times (FT), a London-based news outlet, once named Rajan as one of the candidates who could be considered for the top job at the Bank of England in 2018. Thereafter, media outlets in India frequently cited FT's report.

The same photo has been shared alongside similar claims on Twitter here and here.

But the claim is false.

Current governor

The current governor of the Bank of England is Andrew Bailey, according to the bank's website.

Bailey was appointed on December 20, 2019, for a term that runs from March 16, 2020, to March 15, 2028.

His appointment was reported by local and international media outlets in the UK, including Guardian, BBC, and CNBC.

Bailey has made various public appearances as the bank's boss, including a May 5 interview with British broadcaster Channel 4 and the UK Treasury select committee on May 16.

2013 photo

Rajan is a professor at the University of Chicago Booth School of Business.

"Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth," reads part of his profile on the university’s website.

As of May 20, 2022, his website and Linkedin profile state that he is still with the University of Chicago.

Rajan said in a 2019 interview with the BBC that he did not apply for the bank's top job.

A reverse image search on Google found the photo was shot by The Indian Express (IE) in 2013.

The caption of the photo reads: "Raghuram Rajan today took over as the new Governor of the Reserve Bank of India (RBI). (IE Photo: Prashant Nadkar)".

Screenshot of the Indian Express article, captured on May 19, 2022

Rajan did not immediately respond to an AFP request for comment on the claim.

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Posts falsely claim Indian economist 'appointed Bank of England governor'

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