Rajan is The Banker's central banker of the year | Business Standard News

Rajan is The Banker's central banker of the year | Business Standard News



This refers to the report
“Rajan is The Banker’s central banker of the year” (Business Standard, January 8). Dr Rajan
returned to India when the country needed him most. Indian financial sector
accepted his leadership wholeheartedly and the results are there for all to
see. Team RBI was waiting for the arrival of a new generation leader to move
forward with several initiatives which were already on the drawing board.
The continued acceptance
by New Delhi despite change of guard at the Centre strengthened Dr Rajan’s
hands. Occasional criticism from certain vested interests did not affect the
cordial relationship between Mint road and North Block nurtured by RBI over
time with a clear understanding of the central bank’s role.
Like the TV reality show
winners dedicate their awards to several individuals who would have made their journey
smooth, the laurels coming to Dr Rajan during the last couple of years are also
the result of efforts made by many responsible for formulation and
implementation of policies which supported economic growth.
As many of the financial
sector reforms like opening of new types of banks, innovative methods of
handling stressed assets and even a fresh approach to monetary policy with
focus on inflation are still work in progress, Dr Rajan’s continuing as RBI
Governor for some more years will be in the interest of the country.

G Warrier,


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