Support 2nd term for Rajan: Godrej

Coming out in support of RBI Governor Raghuram Rajan, leading industrialist Adi Godrej has said he is an admirer and it will be a “good thing for India” if his tenure is extended.

Godrej’s remarks comes at a time when there is speculation over Rajan’s future, whose current three-year term as RBI chief ends this September, amid calls for his sacking by BJP leader Subramanian Swamy.

However, Godrej group chairman refused to comment on the controversy.

“I would not like to comment on what other people want to say,” Godrej said when asked about Swamy’s statement. “I think he has done a good job. He is very well respected across the world. He is a very capable person, very well respected person and I think if his term is extended then its a good thing for India,” Godrej said.

Praising Rajan’s work, Godrej said: “He was voted as best Central Bank Governor in the world by one of the magazines. I am admirer of him and I support his extension.” In January, Rajan was awarded the Central Banker of the Year Award (Global and Asia Pacific) for 2016 by the Financial Times Group’s monthly publication The Banker.

Earlier, Swamy had accused Rajan of being responsible for “unemployment and collapse” of industrial activity.

Finance Minister Minister Arun Jaitley last week refused to be drawn in to the matter of a second term for Rajan as the chief of the Central Bank, saying “these are not issues which we discuss through the media”.

Jaitley has also said there is a “mature relationship” between the central bank and the government.

Indicating his interest in a second term, Rajan on May 13 had said he has enjoyed every moment of the job, but there is “more to do”

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