Take context from the input text and decide on the accurate relationship between 'Raghuram Rajan' and 'Reserve Bank of India' from the options provided.
Options: industry, director/manager, employer, developer

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