The Narendra Modi government has terminated the services of K V Subramanian as the executive director at the International Monetary Fund (IMF), reported PTI, quoting sources on Saturday.
Termination of Subramanian's services, with effect from April 30, 2025, was initiated by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. No reason has been officially announced behind his termination.
However, the report further stated that Subramanian has been learnt "to have raised questions" about the IMF's datasets which did not go down well in the corridors of the multilateral agency.
Additionally, there were also concerns raised over an "alleged impropriety" in connection to the promotion and publicity of his latest book, "India @ 100", the report added.
The IMF's executive board comprises 25 directors (executive directors or EDs) elected by the member countries or groups of countries. India is in a four-country constituency along with Bangladesh, Sri Lanka and Bhutan as members.
Who Is KV Subramanian?
Dr Krishnamurthy Subramanian, also known as KV Subramanian, is currently India's IMF executive director representing four countries -- India, Bhutan, Bangladesh, and Sri Lanka. He was appointed for the role on November 1, 2022, for a period of three years.
He was also the 17th Chief Economic Advisor for the Indian government, and was the youngest to take on the role, according to Hindustan Times. Subramanian also held positions in several expert committees of the Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI).
He studied electrical engineering at Indian Institute of Technology, Kharagpur and later completed his MBA from Indian Institute of Managament, Calcuta. Futher, he earned his PhD in financial economics from the University of Chicago's Booth School of Business.
His key areas of research include banking and monetary policy, corporate governance, banking regulation, bankruptcy, innovation & entrepreneurship, law and finance, and emerging markets.
