Had fair amount of independence as RBI chief, faced no govt interference: Rajan

Business

Former RBI Governor Raghuram Rajan listens to questions during a news conference at the RBI headquarters in Mumbai, August 9, 2016.

Speaking of the government’s relations with the Reserve Bank of India (RBI), former RBI Governor Raghuram Rajan on Tuesday said that personally he had enjoyed a substantial degree of independence from any interference in his functioning.

“I basically had a fair amount of independence… I worked with two governments,” Rajan said at the release here of his book “I do what I do”, which he described as essentially a compilation of the speeches he delivered as the RBI Governor.

“I managed to carry out the agenda that I had set out in my first speech,” he said.

Rajan recalled he became RBI Governor in September 2013 at a time of crisis for the Indian economy.

“There was no interference in carrying out my agenda. I had a good relationship with both governments… and I kept them informed,” he added.

In 2016, however, on completion of his three-year term, Rajan became the first Indian central bank governor since Independence not to have his tenure renewed.

A few months before his term finished, Rajan announced that he would be returning to his teaching position in the US at the end of his tenure at the RBI.

 

 

[“source=hindustantimes”]

Written by Loknath Das