Raghuram Rajan in his recent interview with Economist magazine has said “The Reserve Bank of India will survive any Governor and it is important not to “personalize this office. What is important is to not personalize this office. It will survive any Governor, it is bigger than any Governor,”
this was days before his announcement that he would not stay on for a second term. he has always been praised for maintaining inflation to a large extent and for forcing the banks to do a “deep surgery” to clean up their books of bad loans.
Rajan always favours incremental reforms over wholesale ones. He has made it easier to move money in and out of India, but not abolished capital controls in the way you might have expected from a former IMF chief economist.