Reserve Bank of India Governor Raghuram Rajan has been conferred with the Best Central Bank Governor award for 2014 by Euromoney magazine. The magazine said that Mr Rajan's tough monetary medicine combated the storm ravaging deficit-ridden economy in the recent emerging market crisis. Now he is battling vested interests to arouse a sleepy financial system for over one billion people. RBI said in a release issued on Wednesday that Raghuram Rajan received Euromoney's Central Bank Governor of the Year Award 2014 in Washington on October 10. The magazine added that Rajan duly administered tough monetary medicine to ailing bond and currency markets. In January 2003, the American Finance Association awarded Mr Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the global Indian of the year award from Nasscom in 2011, the Infosys prize for the Economic Sciences in 2012, and the Center for Financial Studies-Deutsche Bank Prize for financial economics in 2013.