ICICI Bank chief Chanda Kochchar reacted to the surprise move by Governor of the Reserve Bank of India (RBI) Raghuram Rajan not to seek a second term for himself. After Rajan’s official announcement eminent economists and former policymakers said it will be seen by the world as India’s non-approval to the policies against inflation and uncontrolable debts. Chech out what Kochhar had to say:
“Rajan’s decision to return to academia is a personal one which we must respect. I wish Rajan all the very best for the years ahead,” Kochhar said in a statement Sunday.
“Today, India is the world’s fastest growing large economy with stable macroeconomic indicators…India will continue to remain on a very robust growth path,” Kochhar added.
In her comments, which come a day after Rajan surprised all by disclosing his decision to return back to the University of Chicago, Kochhar said under him, the RBI played a major role in steering the economy in a volatile world.
Rajan’s sudden decision came after ruling BJP’s Subramanian Swamy’s criticism which raised the questions against the Governor’s patriotism, and has been used by the Opposition to attack Rajan