The RBI governor refuses to be drawn into the game of popularity stakes Well, I think we’ve still to get to a place where we feel satisfied. We have this saying, ‘in the land of the blind, the one-eyed man is king. We’re a little bit that way. We feel things are turning to the…
Separately, an Asset Quality Review ordered by Rajan to attack crisis levels of bad loans made by state-owned banks and an accompanying crackdown on ‘willful defaulters’ among oligarchs in the infrastructure sector who have borrowed recklessly for stalled projects may have earned Rajan too many powerful and politically connected enemies. Businessmen opposed to the…
Indian markets, already skittish over Britain’s Brexit referendum, now must deal with the surprise announcement on June 18 by Reserve Bank of India (RBI) Governor Raghuram Rajan that he is stepping down when his three-year term ends on September 4. Tough, uncompromising and outspoken, Rajan, 53, appeared to be doing budget signs everything that…
CHAITANYA KALBAG, contributing writer NEW DELHI – Although his three-year term as governor of the Reserve Bank of India was one of the shortest in the last 25 years, Raghuram Rajan will leave a pair of very large shoes to fill after his departure on Sept. 4. Prime Minister Narendra Modi’s government is taking…
CHAITANYA KALBAG, contributing writer “That is a hard standard for anybody’s commentary to meet, especially if you have a press which is continuously looking for what they think are slights to the government. It is easy to build on that,” he noted as he sought to correct claims that his governorship was one “which has…
As he leaves India’s central bank, Rajan takes aim at his critics and points out the challenges awaiting his successor NEW DELHI Although his three-year term as governor of the Reserve Bank of India was one of the shortest in the last 25 years, Raghuram Rajan will leave a pair of very large shoes to…