New Delhi/Mumbai: Financial market players, bankers and India Inc reacted with dismay at the news of RBI governor Raghuram Rajan opting out for a second term, saying it was “sad to see him go.”
“Dr. Rajan is a person of very high calibre, who has ably built the reputation of our central bank and lent it a huge credibility,” Arundhati Bhattacharya, chairman, State Bank of India.
Rajan, credited with ushering in changes in the central bank, has been a favourite with the financial markets and has attracted global attention for his deft handling of monetary policy.
“Raghuram Rajan’s tenure provided overall macro-economic stability while rightly emphasising that growth, inflation and fiscal deficit are still work in progress,” said Sanjay Nayar, CEO & country head, KKR & Co. “Rajan brought in a keen focus on managing currency in an environment where India happens to be an integral part of global capital flow and furthered the NPA resolution process. But the RBI is a continuing institution and I hope there will be no major shifts in the areas of focus,” added Nayar.