Raghuram Rajan doesn't want to 'spoil the fun' on his extension as RBI governor

Mumbai: Keeping the suspense alive, RBI Governor Raghuram Rajan yesterday said it will be “cruel” of him to “spoil the fun” media was having with speculation over his extension even as he enumerated an “unfinished agenda” on financial inclusion and cleaning up of books of PSU banks.

RBI Governor Raghuram Rajan. Pic/PTI
RBI Governor Raghuram Rajan. Pic/PTI

He also said that a decision is reached in such cases “after discussions between the government and the incumbent.” Amid intense speculation on whether he would continue or not as RBI Governor, an otherwise outspoken Rajan came armed with a “prepared statement” on this issue to his customary post-policy press conference and read it out word-to-word when asked whether he would be there in September-October period.

“As far as the question of me continuing in this position after September 4 goes, it would be cruel of me to spoil the fun the press is having,” said Rajan, whose three-year term ends on September 3. The Governor also said he is “intrigued” by the many letters purported to be written by him which keep coming up in the press, apparently referring to some unconfirmed reports that he was concerned about markets getting impacted by speculation surrounding his continuation. “... a decision is reached after discussions between the government and the incumbent. I am sure you will know when there is news. I cannot do better than point you to the statements of the Finance Minister and the Prime Minister on this,” Rajan said while sticking to the written script.

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