Also Read: India will miss Raghuram Rajan as teacher more than as bankerIncreased competition in the banking systemIn a bid to give more Indians access to financial services, Rajan took steps to introduce more institutions into the banking industry. Leveraging technologyUnder Rajan, the RBI backed technology-based efforts to extend formal financial services to hundreds of millions of Indians, many of them poor and disadvantaged. RBI governor Raghuram Rajan to step down in September after three years in roleRaghuram Rajan made two speeches last week defending his policies, as he urged his successor to continue his campaigns against bad loans and inflation. Rajan made two speeches last week defending his policies, as he urged his successor to continue his campaigns against bad loans and inflation. Photo: Abhijit Bhatlekar/ MintMumbai: The Indian central-bank governor who takes over from Raghuram Rajan in September will inherit unprecedented banking reforms, which include a drive to get lenders to clean up their bad debts and efforts to bring financial services to millions of new customers.

Source: Mint June 27, 2016 03:00 UTC