Reserve Bank of India (RBI) governor D. Subbarao leapt to second place among India’s top newsmakers in July, a month in which he raised key policy rates for the fourth time since March in a relentless fight against inflation. Subbarao was only behind finance minister Pranab Mukherjee in Mint’s 20-member group of influencers as the most cited Indian in both the global and local media. The 27 July first-quarter review of monetary policy, preceded as usual by much speculation and dissected clinically by economists after the presentation, was responsible for him vaulting from fifth place in the global media and seventh place in Indian media in June. Subbarao was also in the news after the government moved to set up a panel under the finance minister that will arbitrate in regulatory disputes; the RBI governor voiced reservations over the move, which some economists said may undermine the autonomy of financial regulators including the central bank.
Reserve Bank of India governor D. Subbarao . Photo: Bloomberg
The Mint Influencers Index is a monthly objective measure based on media analysis by Dow Jones Insight, which tracks these leaders, looking at the volume of media citings for each of them as a proxy for their rising or waning influence. The assumption is that visibility and share of voice is good for them and their companies. In the case of global media, the index is collectively a surrogate for the growing or waning interest in India.
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