Raghuram Rajan’s Successor Will be Announced Shortly: Jaitley

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New Delhi: Union Finance Minister Arun Jaitley on Sunday said the government appreciates the ‘good work’ done by RBI governor Raghuram Rajan and will soon take a decision on his successor.

Jaitley’s reaction came hours after Rajan expressed unwillingness for the second term. Rajan had said he will be returning to the academia after completion of his term as RBI Governor on September 4.

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“Dr Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The government appreciates the good work done by him and respects his decision,” Jaitley said in a Facebook post.

“A decision on his successor would be announced shortly,” his post reads. “… on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016,” Rajan said in a message to the RBI staff.

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