The most powerful Indians in 2011: No. 11-20

11. D Subbarao, 61
RBI Governor
Why   
He stays where he was on the list not just because the growth-inflation debate has hotted up and his monetary tightenings are the most crucial current policy variables, but also because he has maintained the fine balance between Mint Street and North Block. 

Power Punch
His recent decision to hike interest rates by 25 basis points has been well- received by the market as well as the government. RBI’s suggestion that foreign banks incorporate in India is also seen as a bold move. 

What Next
Despite the central bank’s tough actions, the inflation monster hasn’t subsided so far. While balancing growth and inflation will be his biggest challenge, volatile capital flows and lopsided recovery in the global economy would test his policy nerves in the near future.read more