Updated: June 19, 2016 11:15:20 am
Hours after RBI Governor Raghuram Rajan announced he would not seek a second term as the chief of central bank, Union Finance Minister Arun Jaitley on Saturday said the government appreciates the “good work” done by RBI chief and will soon take a decision on his successor.
“Dr Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The
government appreciates the good work done by him and respects his decision,” he said in a Facebook post. “A decision on his successor would be announced shortly.”
Rajan earlier on Saturday said he will be returning to the academia after completion of his term as RBI Governor on September 4. “… on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016,” Rajan said in a message to the RBI staff.
In a statement issued today, Rajan stated, “The approaching end of my three-year term and of my leave at the University of Chicago was, therefore, a good time to reflect on how much we had accomplished. I am confident my successor will take us to new heights with your help. I will still be working with you for the next couple of months, but let me thank all of you in the RBI family in advance for your dedicated work and unflinching support. It has been a fantastic journey together!”
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