Raghuram Rajan has been often called the ‘James Bond’ of world economy and correctly so because of his bold and decisive moves which many bankers shy away from. Apart from predicting serious gaps in the US economy in 2005, Rajan has led various initiatives as the top banker in Reserve Bank Of India. So, here are seven reasons why we think Raghuram Rajan is the ultimate rockstar of the Indian growth story.
1. Always Ahead Of The Markets And A Forward Thinker :
Rajan first came into limelight when he successfully predicted the recession beforehand in 2005. In his book titled ‘Fault Lines’, Rajan broke down how recession would affect the economies worldwide and the exact same sequence unfolded later on, and made him one of the analysts who were close to understanding the bubble.
2. One Of The Best Financial Analyst :
His CV is so immaculate that even the sharpest minds envy his achievements. He is an IIT graduate with an MBA from IIM-A (Gold Medalist) and a PhD in management from the Massachusetts Institute Of Technology. Rajan was also the youngest ever chief economist at IMF, and has been considered for the Nobel Prize in economics more than once. He is undoubtedly one of the best financial and economic analysts in the world right now.
3. Doesn’t Succumb To The Pressures Of The Government :
Rajan does what he thinks best for the economy and does not succumb to the external pressures of the government. His policies are governed by India’s economic scenario and not by the whims and fancies of ‘Babus’ in the government.
4. Instrumental In Bringing Indian Economy Back On The Growth Trajectory :
He is often credited with bringing the rupee back to its acceptable level against the dollar. After coming to power, Rajan quickly took care of various loopholes in the system and also brought about the banking revolution in the country which will be a major boost for the economy in future.
5. A Straight Talker :
He has been in a lot of controversies but that hasn’t prevented the RBI governor to speak his mind. From revealing his reservations about the ‘Make In India’ campaign to taking some serious jibes at the government, Rajan often makes sense because his opinions are followed by definite facts and logic. That is precisely why people take notice when he raises his voice against certain issues.
6. Rajan Has An Eye For Detail :
Rajan made minute changes in the working of the RBI because according to him the organization was working ineffectively and needed some fine-tuning. He has often emphasized on the value of doing small things right in order to take care of the bigger economic questions which haunt India today. From shielding India from the effects of US Federal rate cuts to the stabilization of the rupee, his minute work has reaped immense benefits.
7. Despite Good Offers From Other International Organizations, He Came Back To Work For India :
He left his job as a professor in the World Bank and from the US Federal Reserve Board to come back to India and work for his country. He has been often pegged to take over the top job at the IMF in 2016, but till now, he has refused to work anywhere outside India. This speaks volumes about his resolve to make the Indian economy stronger in the long run.