Raguram Rajan 'will not return', successor to be announced soon
Synopsis
As the RBI Governor announced that he "will not return" after his term ends on September 4, Arun Jaitley appreciated his term at RBI.
Jaitley, on Saturday evening, tweeted: "Dr. Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The Government appreciates the good work done by him and respects his decision. A decision on his successor would be announced shortly."
RBI Governor Raghuram Rajan has made a formal announcement on Saturday evening that he will not return after his term ends on September 4 this year.
Also read: Raguram Rajan’s letter to RBI colleagues as he says 'goodbye'
Amid all the controversies and allegations by the BJP MP, Subramanian Swamy, that Rajan was involved in money laundering, the RBI Governor has made it clear that after his term ends, he will return to academia.
Rajan told ANI, "I will, of course, always be available to serve my country when needed."
"... on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016," Rajan said in a message to the RBI staff.