Won't be cruel to spoil the fun, says Raghuram Rajan

MUMBAI: “It would be cruel to spoil the fun that the press is having with all its speculations,” said RBI governor  Raghuram Rajan as he came prepared to answer the inevitable question that he knew the media would ask him — whether or not he would continue as governor after his term expires on September 4.

In his usual savvy-style at the post-monetary policy statement media briefing  he read out his prepared statement. He said he was “personally intrigued by all the letters that I am supposed to have written,” and went on to say “in all such cases a decision is reached after discussion with the government and the incumbent.I am sure you will know when there is news. I cannot do better than point you to the statement of the finance minister and the Prime Minister. That’s all I have to say.”

There was news on Monday from a government source that remained anonymous, that the PMO was in favour of Dr Rajan continuing, and earlier Union finance minister Arun Jaitley had said that people should not go by media reports. So the guessing game will go on until the Centre comes out with an official statement.