Adi Godrej Supports 2nd Term For Rajan As RBI Governor


New Delhi: Coming out in support of Reserve Bank of India Governor Raghuram Rajan, leading industrialist Adi Godrej has said it will be a “good thing for India” if Mr Rajan’s tenure is extended.

Mr Godrej’s remarks come at a time when there is speculation over Mr Rajan’s future, whose current three-year term as RBI Governor ends this September, amid calls for removal of Mr Rajan from the post by BJP leader Subramanian Swamy.

However, the Godrej group chairman refused to comment on the controversy.

“I would not like to comment on what other people want to say,” Mr Godrej said when asked about Mr Swamy’s statement.

“I think he has done a good job. He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India,” Mr Godrej told PTI.

Praising Mr Rajan’s work, Mr Godrej said, “He was voted as best Central Bank Governor in the world by one of the magazines. I am admirer of him and I support his extension.”

In January, Mr Rajan was awarded the Central Banker of the Year Award (Global and Asia Pacific) for 2016 by the Financial Times Group’s monthly publication ‘The Banker’.

Earlier, Mr Swamy had accused Mr Rajan of being responsible for “unemployment and collapse” of industrial activity.

Finance Minister Minister Arun Jaitley earlier this week refused to be drawn in to the matter of a second term for Mr Rajan as Governor of the central bank, saying “these are not issues which we discuss through the media”. (Read more)

Mr Jaitley has also said there is a “mature relationship” between the central bank and the government.

ndicating his interest in a second term, Mr Rajan had on May 13 said he has enjoyed every moment of the job, but there is “more to do”.