Subbarao has done his Post graduation (M.Com) from Mumbai University. He worked for Asset Alliance Securities Pvt Ltd., from 2005 to ??????? where he looked after Institutional Sales, Mutual Fund & IPO Distribution. Between 1991 to 2005 he was associated with Canara Bank Mutual Funds as Canara Bank Mutual Fund as Assistant General Manager where he oversaw Fund Management, Back Office, Accounts, Audit & System procedures at various points of time. Here, he also looked after primary market proposals for placements in Mutual Funds. Between 1970 to 1991, he worked with Canara Bank as Manager & Sr. Manager, heading departments like Deposits & Credits in various branches of Canara Bank (Hyderabad, Bangalore).