It was around late 90s when I figured out the signature of the Governor Reserve Bank in every currency note which passed through my hand. As I rightly remember most of them were stamped with C Rangrajan. The presence of the Governor till then as felt by the junta was upto that endorsement only. Then came the great recession of 2008 more aptly the “Subprime Crisis”. The Governors hitherto ceremonial office suddenly felt(of course to the public) to be the centre of economy of nation. However the Prime Minister Mr Manmohan Singhs portrait as an economist overshadowed the then Governor Mr Subbarao.Despite all odds our nation stood against recession and our economy unhurtedly performed well.
The dawn of new era with Mr Modi brought a new imported face Mr Raghuram Rajan with a zeal to transform India to economic superpower. The virtuoso Governor not only performed well but also gained a special place among public, media and industry.No other Governor has attained such heights of publicity.He is perhaps the most badass Governor RBI that India has ever seen. His remark “In the land of Blinds one eyed man is the King” proved he was there to do his job well and not to please his appointees. As addressed in his letter the major achievement for him was monetary policy committee.He focussed more on controlling inflation rather than easing credit for industry. This modus has irked many a industrialist majority of whom has major say in current government.
An individual can never remain aloof and work for the system,he has to be in the system. This always attract friends and foes in equal numbers .No system is strong enough to constantly make an equilibrium between the good and the bad. When the balance shifts towards one, either an individual gains or the organisation loses. Nonetheless the environment for the good work should always be for the betterment of the affected and never towards loss or gain.
The nations reaction towards stepping off of Mr Rajan is that our economy will be in turmoil. Let’s show the world this is the land of talents and the coming one will do better. Now the Sachin has retired but Kohli is the new Sachin . I finish it up with Sahir Ludhianvis Nazm
“कल और आयेंगे नगमो की खिलती कलियाँ चुनने वाले,: मुझसे बेहतर कहनेवाले,: तुमसे बेहतर सुननेवाले”