On Saturday, delivering his last speech as RBI governor at St. Stephen’s College in New Delhi, Rajan said: “I would go a little further. Dwelling on the RBI’s independence, Rajan said, “When the responsibilities of the RBI are fuzzy, its actions can continuously be questioned. Not too many possibly can argue with what Rajan had said from various fora, but many questioned his sagacity in raising those issues as an RBI governor. Politicians, academicians, economists and columnists could dwell on those, but the RBI governor should stick to his domain—inflation, interest rates and macroeconomic stability. After all, the appointment of the RBI governor is a political decision and since Rajan was appointed by the previous Congress regime, the current Bharatiya Janata Party-led government has every right to say goodbye to him.

Source: Mint September 04, 2016 16:41 UTC