Rajan last week announced that he would return to the academic world after the end of his term
RBI Governor Raghuram Rajan on Monday addressed a packed hall at the Tata Institute of Fundamental Research. This was his first public engagement after saying on Saturday he wanted to go back to academia after his term at the central bank comes to an end on September 3. Excerpts from his speech:Brexit can be quite damaging if it happens. Of course, we have factored in some probability of it happening. If it doesn't happen, you could see some significant rebound. We are preparing for it and monitoring the markets"We will do what it takes to moderate market volatility, but once the initial bouts of wave abate, people look for good fundamentals"By focusing on WPI, we could be deluded into thinking we control inflation, even though it stems largely from actions of central banks elsewhere. In doing so, we neglect CPI which is what matters to our common man, and is more the consequence of domestic monetary policy"If a critic believes interest rates are excessively high, he either has to argu
He even praised the Narendra Modi government for setting a Consumer Price Index-based inflation objective
Read below the full text of RBI Governor Raghuram Rajan's speech at Tata Institute of Fundamental Research, Mumbai
BJP leader Subramanian Swamy has been agitating for Rajan's removal as RBI chief since before Modi came to power
While expressing caution on rupee volatility, the brokerages also see short-term negative impact on the markets
The new reform measures also relax restrictions on inbound investments in pharmaceuticals and single-brand retail
NCP leader Majeed Memon said it is very sad that Arun Jaitley has succumbed to pressure from Rajan's critics
The hostility he had faced of late from elements of Modi's ruling party was evidently greater than he had counted on
Rajan on Saturday announced that he would return to the academic world at the end of his term on September 4, 2016
Currency opens 54 paise lower at 67.68 against Friday's close; government bond yields was trading at 7.53%
Banks and forex dealers fear that Rajan's exit this September could trigger capital outflows amid jitters among foreign investors
The party also said Rajan's exit is the 'most unpleasant thing' for the country
In an announcement yesterday, Rajan said he will step down as RBI Governor in September
Rajan's colleague at Chicago University Booth School of Business Luigi Zingales termed it is a huge loss for India
Escalating his attack on the Centre, Congress leader Pramod Tiwari described its economic and foreign policy as a 'lost wanderer'
In his letter, Rajan has said that the decision to leave was taken after consultation with the government
Officials from PMO and the Finance ministry have made no immediate comment on the development
The RBI chief is known for his wit and frank views on the state of affairs in the Indian and global economy
Five key voices that came out in support of the RBI governor