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Raghuram Rajan refuses to speculate on his reappointment

India Blooms News Service | | Jun 07, 2016, at 08:17 pm

Mumbai, Jun 7 (IBNS): RBI governor, Raghuram Rajan, on the sidelines of the press conference regarding the monetary policy review, on Tuesday, said that he did not want to spoil the fun the media is having speculating about his reappointment by the Union government.

"It would be cruel of me to spoil all the fun the press is having," said Rajan reading out from a written statement.

I’m intrigued by all the letters I’m supposed to have written,” he said.

Rajya Sabha member Subramanian Swamy had written to the Prime Minister, seeking immediate removal of the Governor from his post, the media had reported.

Rajan pointed out, "the decision is reached after detailed discussion between the government and the incumbent. I cannot do better than point you to the statements made by the finance minister and the prime minister."

Days before the monetary review presentation, Union Finance Minister Arun Jaitley had refused to discuss the reappointment and said a decision will be taken when the time arrives, media reported.

Rajan's current tenure ends in September.

Also, the second monetary policy review presented on Tuesday by Raghuram Rajan is likely to be the last such presentation by any RBI governor if the new arrangement -- where a six-member monetary policy committee will decide on the rate-setting -- is implemented from the next policy in August, according to media reports.

The bill to set up a monetary policy committee has been approved by parliament, reported NDTV. A six-member monetary policy committee will set interest rates - three members will be nominated by the government and three by the RBI. The governor will have a casting vote.

#Raghuram Rajan # RBI Governor #RBI

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