Raghuram Rajan's term at RBI 'mischievously interrupted': Chidambaram

P Chidambaram said D Subbarao's term was extended despite tension between the UPA govt and RBI. Presently, there is no tension between the two but Raghuram Rajan is not given an extension

IANS August 12, 2016 08:09:27 IST
Raghuram Rajan's term at RBI 'mischievously interrupted': Chidambaram

New Delhi - Former Union Finance Minister P Chidambaram on Thursday hinted that the outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan not seeking another term was due to the "mischievous interruption" by the government.

Raghuram Rajans term at RBI mischievously interrupted Chidambaram

P Chidambaram. PTI

"As per the convention, the extension of the RBI Governor's term is only a formality. But it has been mischievously interrupted," Chidambaram said.

He was speaking at the book launch of 'Who Moved My Interest Rates?', written by former RBI Governor D. Subbarao.

Chidambaram said Subbarao's term as the RBI Governor was extended despite tension between them, as stated in the book.

"But now there is no tension between the government (NDA) and the RBI Governor (Rajan) but his term was not extended," he added.

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