NEW DELHI:  Media reports suggesting Reserve Bank of India Governor Raghuram Rajan would be shifted to the proposed BRICS Bank as its head are “baseless”, a top finance ministry official said. “It is absolutely baseless,” the official said when asked about media reports on Rajan. Zee Business television channel today reported that Rajan was likely to be moved to BRICS Bank and Competition Commission Chairman Ashok Chawla was being considered as his replacement. India will nominate the first head of the proposed Shanghai-based bank being promoted by the BRICS nations.

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