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In 2013, the Reserve Bank of India (RBI) was headed by Dr. Raghuram Rajan, who served as the 23rd Governor of the RBI from September 2013 until September 2016. He was known for his focus on financial stability and reforming the Indian banking sector. Prior to his role at the RBI, Rajan was the Chief Economist and Director of Research at the International Monetary Fund (IMF).

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