Utilize the input text as a context reference, choose the right relationship between 'Raghuram Rajan' and 'Reserve Bank of India' from the options.
Options: director/manager, developer, employer, industry

The Governor Raghuram Rajan -led Reserve Bank of India ( RBI ) held policy rate at 7.25 percent on Tuesday, pausing as widely expected after a spike in food prices sent consumer inflation to an eight-month high.
employer