Dr Rangarajan is the former chairman, Economic Advisory Council of the Prime Minister and former governor, Reserve Bank of India (RBI).
The Indian Econometric Society (TIES) Trust has conferred the inaugural Prof CR Rao Centenary Gold Medal (CGM) to two distinguished Indian scholars — Dr Jagdish Bhagwati and Dr C Rangarajan.
Dr Bhagwati is a professor of economics, law and international relations at Columbia University and Director of the Raj Centre on Indian Economic Policies. Dr Rangarajan is the former chairman, Economic Advisory Council of the Prime Minister and former governor, Reserve Bank of India (RBI).