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Speculation swirls over India's next central bank chief

Clockwise from top left: Arvind Subramanian, chief economic adviser to India's finance ministry; State Bank of India Chair Arundhati Bhattacharya; Reserve Bank of India Deputy Gov. Urjit Patel.

MUMBAI -- Speculation has begun over who will replace Indian central bank Gov. Raghuram Rajan when he steps down at the end of his term in September, but market players worry whether his successor can continue crafting solid policy and pushing for reform in the face of political pressure.

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