Raghuram Rajan -Former RBI Governor, Raghuram Rajan, who was named by Time in its list of 颼 Most Influential People in the World' for the year 2016, dropped a bombshell on the Indian economy when he announced that he would not seek a second term, when his three-year reign ended in September, and would return to academia instead. While he chose to quote personal reasons for his abrupt exit, it was widely speculated that Rajan was distraught at having to face mounting criticism from conservative members of BJP & several of his suggested reforms were not being supported. He had earned great popularity in the financial industry for his achievements, which include lowering runaway consumer prices and stabilizing the exchange rate. The most important implication of his exit was that foreign investors faith in the Indian market was further eroded.
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