My View on "Raghuram Rajan may face showdown if Narendra Modi ...":
Unlike several other top posts which had become controversial or had seen changes during political transitions in New Delhi, RBI Governor’s position did receive continuity and the incumbents never found it much difficult to adjust with the changes in policy perspectives during such transitions. GOI and Dr Raghuram Rajan were well aware about Elections 2014 when the offer and acceptance of the appointment were made in August 2013. Dr Rajan has also made it clear that he does not expect any problem in adjustiong with a change of guard in New Delhi. The present discussion in the media is perhaps fuelled by certain interests unhappy with the stability in approach to monetary policy and financial sector regulation RBI has been able to infuse despite political pressures. RBI is mature enough to survive such gossips. This observation is being made, despite the fact that the RBI Governor and his deputies do not enjoy any ‘job security’ similar to those enjoyed by those holding similar positions in other statutory bodies or judiciary.
- M G Warrier
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