Rajan differs with RBI response to House panel on note ban

Ex-RBI governor said he had wanted to put things straight on demonetisation as Parliament had a right to know what actually happened.

Former RBI governor Raghuram Rajan does not approve of the responses given to the parliamentary panel by the central bank about demonetisation.
 
During the launch of his book 'I do what I do', he said it was not a tell-all book and did not quote private conversation except on demonetisation in the introduction. 
 
Rajan said he had wanted to put things straight on demonetisation as Parliament had a right to know what actually happened.
 
He said there was no interference from both the governments (UPA and NDA) in carrying out financial sector reforms and he always had the government support. 
 
Former RBI governor took a veiled dig at the government saying it is always better to under-promise and over-achieve than to face awkward questions when it comes to growth comparisons with China.
 
"This notion that, we at every corner, we have to say we are the best and there is no body else like us. Well that is not true, first. There is lot of potential in India, we are capable of doing significantly more over the years to come.
 
India's GDP growth fell down to 5.7 per cent in April-June quarter, as against 6.1 per cent in the preceding three-month period. 
 
China clocked 6.5 per cent growth rate in both the quarters.
 
Source: ET.com

Event date: 
Wednesday, September 6, 2017

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