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The Reserve Bank of India (RBI)’s central office here was a hub of activity on Wednesday, with media persons jostling to catch a glimpse of Raghuram Rajan, who took charge as RBI governor.
To welcome Rajan, the journalists had lined up since 9 am. Outgoing governor D Subbarao entered the building at 10 am and greeted the media.
At 11 am, Rajan entered the RBI office in a white Toyota Corolla. At the main gate, he was greeted by the four deputy governors — K C Chakrabarty, Anand Sinha, H R Khan and Urjit Patel. Chakrabarty, the most senior of the deputy governors, presented Rajan a bouquet.
As he walked on the portico before entering the main building, Rajan happily obliged the cameramen struggling to get the right shot. On entering the building, Rajan went to the 18th floor, where Subbarao, who demitted the office of governor later in the day, had a meeting with him. Top bankers and banking editors from electronic and print media met Rajan over lunch. While lunch was being served in the VIP lounge on the 25th floor, there was a bomb scare outside the building—an unattended bag was found inside a BEST bus. After a bomb squad found only clothes and books inside the bag, everyone heaved a sigh of relief.
Subbarao said India was going through challenging times. “The country couldn’t have asked for a more capable person than Raghuram Rajan to lead the Reserve Bank at such difficult times. I wish him all the very best,” he said while leaving the RBI premises.
