It will survive any governor, it is bigger than any governor,” the Economist magazine quoted Rajan as saying in its latest edition. Raghuram Rajan has been often hailed as the ‘rockstar central banker’ ever since becoming RBI governor and for containing the rupee’s volatility amid global market uncertaintiesLondon: Reserve Bank of India (RBI) will survive any governor and it is important not to “personalise this office”, the outgoing Raghuram Rajan said days before his surprise announcement that he was not interested in a second term. It said Rajan “need not even leave his office atop the Reserve Bank of India’s tower in Mumbai to gauge two factors central to India’s prosperity”. “Though a relative newcomer to the cut and thrust of Indian policymaking, Mr Rajan knows better than to offer any comment on his reappointment,” the magazine wrote. Rajan, a former International Monetary Fund (IMF) chief economist who is credited to have predicted the 2008 global financial crisis, has been often hailed as the ‘rockstar central banker’ ever since becoming RBI governor in September 2013 and for containing the rupee’s volatility amid global market uncertainties.

Source: Mint June 19, 2016 14:37 UTC