Not returning for 2nd term: RBI governor Rajan tells collegues

June 18, 2016 17:08

JUST IN: The Press Trust of India is reporting that Reserve Bank of India Governor Raghram Rajan has told his colleagues that he will be returning to academics after his term ends on September 4.

Rajan said work on containing inflation, cleaning bank books was not over, but he decided to go after 'due reflection' and consultation with the government, PTI further reported.

Over the last few weeks, Rajan has kept the market guessing about his future at the central bank.

Speculation on whether the government will give him another term has reached a crescendo in the past two weeks, especially after Rajya Sabha MP Subramanian Swamy launched a tirade against him, accusing him of 'willfully' wrecking the Indian economy with high interest rates.

Later, in a letter to Prime Minister Narendra Modi, Swamy levelled six allegations, accusing Rajan of leaking confidential financial information through his personal email and continuing to hold a US Green Card despite holding a "very high Government of India post".

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