Rajan in RBI

(Written in August, 2016)

Raghuram Rajan, an engineer-cum-banking manager has served well as the Governor of RBI for nearly three years and likely to get back to academia in the University of Chicago and be there for a while or longer till he gets his next assignment. Comparatively young and competent in his job he has indeed created a little more heat on Indian soil and Indian banking system during his brief tenure of three years. With a few reforms at the central bank level he had focused more on inflation control and currency stabilisation. Inflation the hydra-headed monster hasn't been totally controlled the way the common man in the street would have wanted although from the bankers' point of view he has saved the economy from it's  going out of control totally. Money supply in the economy - both legally accounted for and illegally stashed both within and outside the shores in the form of black money would need much more pragmatic and bold initiatives in the days to come.

One would certainly remember Rajan for having been in the limelight and headlines for his speeches and statements and actions like T.N.Seshan in the Election Commission of India two decades ago.

Wish him good luck for future contributions.