27 June 2016
The surprise announcement last week that Raghuram Rajan, Governor of the Reserve Bank of India, was stepping down sent shockwaves around the world. Rajan, a brilliant academic who came from the University of Chicago to take up the appointment under the Singh government, was credited with stabilising the economy and turning inflation around. He is an outspoken champion of both economic and social reform. When push came to shove, he chose to go.