Touched by the rousing reception given by students, their parents and teachers at DPS R K Puram, he said it took quite an effort for his parents to get him admitted to the school in 1974, but he passed out as a better person.
There was a time, he said, when he did not have a blazer and used to go to school in sweater.
"I have to say I did not own one (blazer) in the school then, I made through high school with a sweater partly because that time my parents could not afford a blazer," said Raghuram Rajan, observing how things have changed for better in the past few decades.
Raghuram Rajan said that when he grew up, there were fewer opportunities as everybody wanted to join engineering schools or medical colleges.
"Today you have so many, so many opportunities. You have lots of opportunities in the media... You could become a chef, you could become a professor, a central banker and so many opportunities you have today," he said.
"So I am not saying things would be easier for you, lot's more choice but it will also be challenging. The reason is that today there is far more competition from globalisation and technology than there used to be in our time," he added.
Raghuram Rajan also recalled the days when he was part of the orchestra in school.
"I used to play banjo... I wasn't good at music and I used to be able to do the slow stuff. But when it got fast, I would play randomly and for many years, I got away," Raghuram Rajan said.