READ: 10 points from Raghuram Rajan's letter to the RBI

As it turns out, Raghuram Rajan has reportedly written to his team at the RBI informing them of his decision to move on from being India's top banker.

He has hinted in the letter that he would be moving to his former role of being a teacher in the University of Chicago, However, he expressed his willingness to serve his country whenever needed.

In his nostalgic and heartfelt letter, Rajan outlined his achievements during the tenure of him being the RBI Governor wherein he created a platform of macroeconomic and institutional stability.s.

Here are 10 points from Raghuram Rajan's letter to the RBI team-


1) When I took over, India was labelled one of the 'Fragile Five'

2) I laid out an agenda for action and a new monetary framework.

3) We focussed on bringing inflation down and raising forex reserves.

4) My plan took on the licensing of niche and general banks by committees.

5) I undertook the creation of the Bharat Bill Payment system and the Trade Receivables Exchange.

6) Extended payments to all through mobile phones.

7) Developed a large loan database to better map distress in this area.

8) Today inflation has been halved and savers earn positive interest after a long time.

9) Currency has stablized and government has launched a 40 year bond for the first time.

10) The new Bank Board Bureau has been instrumental in creating a structure for PSBs.

Image credit: Indiatimes