Raghuram Rajan's 'Three-Year' Journey
RBI Governor Raghuram Rajan on Tuesday presented his last monetary policy whereby he kept the key interest rates unchanged.
Rajan assumed charge as the 23rd Governor of the Reserve Bank of India (RBI) on September 4, 2013, and will complete his tenure on September 4 this year.
After completing his tenure, Rajan will resume to his teaching profession at the University of Chicago in the United States. Rajan is a Distinguished Service Professor of Finance at the Booth School,according to the website of the University of Chicago.
When Rajan came on RBI's board in 2013, India's inflation was at its peak high at 9.84% and his interest rate decisions during his three-year tenure have helped to bring the country's inflation down to 5.77% in June 2016.
During his three-year tenure with the central bank, Rajan took several key decisions, which had led to growth in the country's foreign exchange reserves, appreciation in value of rupee against other foreign currencies, inflation under control, etc.,
He introduced significant reforms into the country's banking sector such as small finance bank (SFB), payments bank, banking licenses, etc.,
Watch the full video report to know more about Rajan's three-year journey here-