Rajan not keen to continue

RBI Governor Raghuram Rajan has said he is not keen on a second term and that he would return to academia when his tenure ends in September. Rajan has conveyed this in a letter addressed to RBI staff. In the letter, Rajan said that the “agenda” he pursued was to help nurse India back on the path of recovery first and then ensure growth. He said that while much was accomplished, a part of that task remained a work in progress.

“I am an academic and I have always made it clear that my ultimate home is in the realm of ideas. The approaching end of my three-year term, and of my leave at the University of Chicago, was therefore a good time to reflect on how much we had accomplished,” Rajan wrote in the letter. Rajan said that he would be returning to the US university from where he is on a sabbatical. “While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as governor ends on 4 September 2016,” he said, adding: “I will, of course, always be available to serve my country when needed.”