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Support second term for Raghuram Rajan as RBI governor: Adi Godrej

"He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India," Godrej told reporters.

By: PTI | New Delhi | Updated: May 22, 2016 12:58 pm
Raghuram Rajan, RBI, RBI governor, Adi Godrej, Raghuram Rajan RBI, Raghuram Rajan Adi Godrej, business news RBI governor Raghuram Rajan. (Express Photo by Prashant Nadkar)

Coming out in support of RBI Governor Raghuram Rajan, leading industrialist Adi Godrej has said he is an admirer and it will be a “good thing for India” if his tenure is extended. Godrej’s remarks comes at a time when there is speculation over Rajan’s future, whose current three-year term as RBI chief ends this September, amid calls for his sacking by BJP leader Subramanian Swamy. However, Godrej group chairman refused to comment on the controversy.

“I would not like to comment on what other people want to say,” Godrej said when asked about Swamy’s statement. “I think he has done a good job. He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India,” Godrej told reporters.

Praising Rajan’s work, Godrej said, “He was voted as best Central Bank Governor in the world by one of the magazines. I am admirer of him and I support his extension.”

In January, Rajan was awarded the Central Banker of the Year Award (Global and Asia Pacific) for 2016 by the Financial Times Group’s monthly publication ‘The Banker’. Earlier, Swamy had accused Rajan of being responsible for “unemployment and collapse” of industrial activity.

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Finance Minister Minister Arun Jaitley last week refused to be drawn in to the matter of a second term for Rajan as the chief of the Central Bank, saying “these are not issues which we discuss through the media”. Jaitley has also said there is a “mature relationship” between the central bank and the government.

Indicating his interest in a second term, Rajan on May 13 had said he has enjoyed every moment of the job, but there is “more to do”.

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    A
    May 22, 2016 at 10:05 am
    Yes Sir.Dr.Rajan definitely deserve the second term
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      Deshu
      May 22, 2016 at 11:02 am
      RBI governor Raghuram Rajan must get Secod term as RBI Governor but he must take some steps to arrest and reduce NPA of Banks. Why does he not come his ideas/remedies to reduce NPA? Public actually does not know what is NPA. Non Recovery of Loans from Corporate Sectors finally taken in Bank account as bad debts. and then right off loan.Further he must disclose names of Defaulters to SC and Public too.No doubt there are some difficulties in disclosing names of such Defaulters due to fear losing goodwill in national/ international market and thus losing business but those defaulters who intentionally dodge banks must be disclosed to public.Otherwise NPA of Banks will increase.
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        Deshu
        May 22, 2016 at 11:14 am
        RBI governor Raghuram Rajan must get Secod term as RBI Governor but he must take some steps to arrest and reduce NPA of Banks. Why does he not come with his ideas/remedies to reduce NPA? Public actually does not know what is NPA. Non Recovery of Loans from Corporate Sectors finally taken in Bank account as bad debts. and then Write off such loans.Further he must disclose names of Defaulters to SC and Public too.No doubt there are some difficulties in disclosing names of such Defaulters due to fear losing goodwill in national/ international market and thus losing business but those defaulters who intentionally dodge banks must be disclosed to public.Otherwise NPA of Banks will increase.
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          truthsayer
          May 22, 2016 at 11:57 am
          Forget it. We do not need jumla governor ..we need someone work with government and find best way for RBI. He is like a congress sponsored Terror...
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            BharatK
            May 22, 2016 at 12:52 pm
            Why? Explain.
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