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Have enjoyed my job, but there is ‘more to do’: Raghuram Rajan on second term

Indicating his interest in a second term as RBI governor, Raghuram Rajan said on Friday that he has enjoyed every moment of the job but there is “more to do”, despite calls from some sections of the ruling BJP against any extension for him.

“There is a lot of fulfillment from making things actually happen for improving the environment… I have enjoyed every moment of the job,” Rajan said.

The RBI governor is currently on a visit to the UK for a series of lectures and recently said that he had not heard from the government on extension of his term at the central bank.

After assuming charge as the RBI governor in September 2013, Rajan has gradually raised the short-term lending rate from 7.25 per cent to 8 per cent and retained the high rates throughout 2014.
He had earlier kept the rates high, citing inflationary concerns despite intense pressure from the finance ministry and the industry for softening them with a view to boosting growth.

The governor began the process of lowering the rates in January 2015 and since then it has come down by 1.50 per cent to 6.50 per cent.

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