Raghuram Rajan report card: It's actually too early to tell whether he was an effective RBI governor

Abstract

The economist seeded several important initiatives but many will take a while to play out. The Reserve Bank of India seems to disappoint perceptions in most instances. When Duvvuri Subbarao, the previous central bank governor, came in, he was seen as a man from the finance ministry, one planted to toe the government’s line. But we saw him declare independence and act as the RBI Governor should – informed, independent and on technical rather than political considerations. It’s been the same with Raghuram Rajan. He came into the office as a relatively young academic with an international perspective. Unlike his predecessors, he had a reputation that preceded him: he had authored a report on the reform of the financial sector in which his positions were well articulated. Read more at: https://scroll.in/article/810249/raghuram-rajan-report-card-its-actually-too-early-to-tell-whether-he-was-an-effective-rbi-governor