RBI Governor Raghuram Rajan will not go for second term

Ending months of speculation, Reserve Bank of India (RBI) Governor Raghuram Rajan has formally told his colleagues that he is not keen on a second term at the helm of the country’s central bank and would return to academia when his tenure ends in September.

This was conveyed in a 888-word letter addressed to the RBI staff, a copy of which was obtained by IANS.

Reflecting on his term as the 23rd governor of the central bank since September 2013, Rajan said the agenda he pursued was to help nurse India back on the path of recovery first and then growth.

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