Indianmandarins has learnt that the new RBI governor may be appointed sometime in August after Raghuram Rajan chairs his final policy meeting next month. It is feared in official circles that the appointment of the new governor before the policy meeting in August would be in bad taste as it would compromise Rajan's standing. Top official sources disclose that Kaushik Basu, who is stepping down as the World Bank's chief economist, is one of the shortlisted candidates to take over when Rajan's term expires on September 4. The others are RBI deputy governor Urjit Patel, former deputy governor Subir Gokarn and State Bank of India Chairperson Arundhati Bhattacharya. Anxious to reassure investors following Rajan's shock exit announcement, Prime Minister Narendra Modi's team initially wanted to identify a replacement in time for Rajan's last bi-monthly policy meeting on Aug. 9. On reconsideration, this option was considered poor in taste and hence dropped.