In the history of the Reserve Bank of India (RBI), the tenure of Raghuram Rajan would be written in golden letters but the way we chose to bid him goodbye is untoward. A hard-nosed reformist, Rajan appears to have been victimised because of a forthright, unyielding mindset.
He is in favour of capitalism in the form of entrepreneurship that could create more productive assets and wealth for the betterment of people. He also tried his best to whitewash crony capitalism, as it would favour the dynamic business entities and leave the first generation start-ups in discomfort.
His ability to wield power is impeccable - taking measures to contain inflation on the one hand and expediting reforms to boost the economy on the other. Rajan will be remembered as one of the vibrant RBI governors who served the best interests of the nation.
S Lakshminarayanan, Cuddalore
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