Rajan: RBI🏦 Governor Term Too Short

  |   India News

By Fråst🐺

RBI🏦 Governor Raghuram Rajan’s term will end in 9⃣ weeks on 4 Sep. His office has a term of 3⃣ years. On Thursday, he said that India🇮🇳 needed to emulate the global🌐 practice of having a longer term for its RBI Governor👔. He was briefing Parliament’s standing committee of finance💰 on several economic aspects and NPA in banks🏦. At the committee, he responded to a question regarding the adequacy of the tenure of the post of a Governor. He said that a 3⃣-year term is “short,” and then said that in the US🇺🇸 Federal Reserve, the chairman and vice-chairman would serve a 4⃣-year term. This was in addition to serving as members of the board👥, and they could also be reappointed as and when required. Rajan also explained to MPs the impact Brexit🇬🇧 would have on India and the global economy.

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