Rajan ends speculations, says he will quit as RBI governor

NEW DELHI: Ending all speculations, Reserve Bank of India (RBI) governor Raghuram Rajan on Saturday announced that he would not be serving a second term. His current terms will be ending on September 4.

In a letter to his staff members at the central bank, Rajan says he will return to his academic career when his term ends on September 4.

“I want to share with my colleagues that I will be returning to academia soon after my term as Governor will end on September 4, 2016. Moreover, I will always be available to serve my country whenever needed," reads the letter.

Highlights:

• In the letter, Rajan has also listed out a number of achievements of the RBI during his tenure.
• He thanked his team at the RBI for their dedicated work and unflinching support.
• His announcement came amid intense speculation over whether he would be offered a second term by the government.