What a pity!

http://www.timesofindia.com/india/Raghuram-Rajan-says-he-wont-serve-second-term-as-RBI-Governor/articleshow/52809551.cms

One Tambram nudges shoves another out.

One Delhiite shoves another out.

assholes in the ruling party will deserve what they get in 2020, if they replace him with a political toady like congress used to.

i don't understand all the media articles that are falling over each other to praise him. his performance can only be called average at best. they are giving credit to him for rupee stabilization and keeping inflation under control. but the crude oil price crash is more responsible for those "achievements".

garam-kuta wrote:i don't understand all the media articles that are falling over each other to praise him. his performance can only be called average at best. they are giving credit to him for rupee stabilization and keeping inflation under control. but the crude oil price crash is more responsible for those "achievements".

Positives
Agree that he had help on inflation. 
a) However he has ensured that Inflation trends lower and his stress on sustainability
   of any trend, before taking steps on interest rates (though debatable given the
   external favorable factors) is a good benchmark for any future RBI governor. 

   It is debatable because, historically previous NDA government was able to jump start    economy by a big reduction in cost of capital as soon as they took over.  Swamy has      history on this side on that particular point.

He has initiated some structural changes which were good.
b) NPA declaration of Banks was a great step. Unlike China, India does not have 
    any more doubts on the size of the problem. Though the effect of Bankruptcy law  
    is still not felt. 
c) Monetary Committee was a great institutional step. But he was unfortunately not
    able to see it through.
d) Working with Niti Aayog was smooth and focus on Mobile to Mobile Banking (yet to
    fructify) and regulatory framework for RuPay were great contributions.
    Steps c & d, in the long run will curb internal Black Money generation. So he has
    supported these far-reaching steps.
e) Supporting regulatory framework for Mudra and making it easy to start other private
    sector Banks were also good steps.

Negatives
1) The greatest disagreement was that he did not see eye to eye on the government 
    on the need to support Jobs. He though RBI was not involved in Job creation 
    unlike the US FED.

2) In addition the emergency step he took 26 Billion Inflow during Sep 2013, to 
   shore up Rupee is now coming due and he could have buffered up the reserves 
   to take that shock. I do not think he planned for it. It was his steps, so he 
   should have prepared'for it. 

3) I think his non-economic positions was totally un-necessary and avoidable.

4) He also became prescriptive in public regarding economy and approach

• He said Focus on Manufacturing to take on China is not advisable, indirectly    
  

         questioning Make in India, which actually has won accolades (as a concept)   
         for the simplicity of branding and message.

• Then he said we should not follow export model like China, and wanted folks
  

         to temper goals.

• He is right to say that we should not exult for just getting to 7.6% and claim
  

         fastest growing in the world. However the way to say that is not to talk about 
         One Eyed King in the land of Blind but actually say the truth, that things are
         fragile and it could be transitory without right policy support. He also could
         have given new goals like 10% as the number and also focus on per-capita
         income, which is an issue in India because of lack of population control among 
         Minorities. 

• He was right to question GDP number revisions, but being RBI governor he should have setup an eminent panel to review it, rather than go about commenting on it.