RBI Governor Raghuram Rajan said he was open to staying a bit longer to complete the unfinished work of bank clean up, but is perfectly happy to go. Calling the political attacks on him abominable, Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on.
With his tenure ending next month, Rajan plans to return to academia on September 4. "Some of these recent attacks were abominanle, that is imputing sort of motives, alleging things completely without any basis," he said. He, however, added that he put them aside and did not pay any attention to them. He said when people asked him if he was open to the second term, he said that although he had structured all his initiatives at RBI with a three year horizon, there was some unfinished work like PSU banks' balance sheet clean up and setting up of monetary policy committee framework.
"That does not mean in any way, that I was absolutely hell bent on having a second term. I was open for staying a little while longer to see them complete, but at the same time I was perfectly happy to go." Rajan said that 90-95 per cent of the job he had taken on was over, and he had absolute freedom to do his work.
