Chief Economic Adviser and Reserve Bank of India Governor-designate Raghuram Rajan said the economy is passing through challenging times but expressed confidence that the country will overcome it.

"It's a challenging environment, and I look forward to work with everyone in RBI .. We will overcome the challenge," Rajan said outside the RBI headquarters where he attended the central bank's board meeting.

The Government, earlier this week, announced that Rajan will succeed D Subbarao as the Governor of RBI on September 5. Subbarao's 5-year term ends on September 4. Read More