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Nearly 60,000 people want Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword>) Governor <keyword id="6358908" type="PERSON" weightage="100" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword> offered an extension, according to <keyword id="794843" type="COMPANY" weightage="100" keywordseo="Change-org">Change.org</keyword> , an online petition platform. 
 
This is perhaps for the first time in the RBI's history that a public petitioning is happening on whether the incumbent governor should be given a service extension. Rajan's term ends in September. 
 Rajesh Palaria's petition to Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> that has garnered 58,262 supporters. In his petition, Palaria, as an Indian citizen drew Modi's attention to Rajan, saying he has been doing great job by balancing and maneuvering the Indian economy. 
 "I was recently noticing how Shri <keyword id="6370187" type="PERSON" weightage="100" keywordseo="Subramanian-Swamy">Subramanian Swamy</keyword> has been bullying and threatening him at large. I request all of my fellow citizens to sign this petition and seek Modi to depute Raghuram Rajan for second term as <keyword id="64190" type="POSITION" weightage="100" keywordseo="RBI-Governor">RBI Governor</keyword>. He is very crucial for India Growth Story now," Palaria said in his petition. 
 
As to the reason for starting the petition, Palaria said harsh words were spoken about Rajan with a strong hint of prejudice and malice which he did not approve of. 
 
"I had never in my wildest dreams thought of making this far, all I wanted was to calm down my nerve which was being disturbed by the bullying rhetoric; posting this petition was only to make myself complacent," he added. 
 
Echoing his thoughts, Deepak Venkateswaran, whose petition got 55 supporters, termed Rajan as a man way ahead of his time in thinking and knowledge. 
 
"His overhaul of the RBI and his boldness in taking decisions may it be to maintain the stability of the rupee; or stabilising the macro-economy of India is truly commendable," Venkateswaran said in his petition. 
 
There also were petitions against giving Rajan an extension but they gained very few supporters. 
 
In his petition that got 22 supporters, Ajay Paul Jagga said there should be no second term for Rajan as he holds a US green card. 
 
Residents of India, definitely feel as to why we can't find a single Indian resident for this job. It is will be a great and patriotic step if an Indian citizen and permanent resident is appointed as RBI Governor," he said. 
 
Arguing his case against Rajan's second term, Lokesh Rastogi whose petition garnered 16 supporters, asked how the economy would grow if RBI Governor didn't work at the same pace and direction as the government. 
 
What the country needs is a new governor with a positive approach towards the economy and growth of the country and with different and modern ideas. The old theory of economics that to control inflation reduce the availability of money and increase the interest rate now doesn't work," he said. 
 
"In a growing country to fight the inflation we need to increase production, create jobs and increase the income of people. Raghuram Rajan is a student of old school of thoughts and need to changed without delay. If there would have been a different governor the interest rate would have lower by atleast 1-2 per cent then the prevailing rates which would have resulted with a boom in the economy," he said in his petition. 
 
 
Image credit: Indiatimes

Nearly 66,000 people signed a petition that asks for RBI Governor Raghuram Rajan's second term

<a href="http://www.businessinsider.in/searchresult.cms?query=raghuram+rajan&amp;sortorder=effectivedate">Raghuram Rajan</a> finally spoke about his second term as the governor of <a href="http://www.businessinsider.in/searchresult.cms?query=rbi&amp;sortorder=effectivedate">Reserve Bank of India (RBI)</a> but still maintained the suspense. 
 
While addressing a news conference on bi-monthly monetary policy, Rajan pointed out at the statement made by Prime Minister Narendra Modi made on Rajan. 
 
“It would be cruel of me to spoil all the fun the press is having over all the speculations. I am personally intrigued by all the letters I am supposed to have written. Seriously, in all such cases a decision is reached after discussions between the government and the incumbent. I am sure you will know when there is news. I cannot do better than point you to the statements of the Finance Minister and the Prime Minister on this,” said Rajan, whose tenure ends on September 04. 
 
Prime Minister Narendra Modi, in his interview to Wall Street Journal, had said Rajan's second term should not be a concern for media. 
 
"I don't think this administrative subject should be an issue of interest to the media. Besides, it will come up only in September," Modi said. 
 
READ ALSO: <a href="http://www.businessinsider.in/Nearly-66000-people-signed-a-petition-that-asks-for-RBI-Governor-Raghuram-Rajans-second-term/articleshow/52622795.cms">Nearly 66,000 people signed a petition that asks for RBI Governor Raghuram Rajan's second term</a> 
 
The India Inc also backs Rajan was his second term. However, BJP’s senior leader has demanded Rajan’s termination and has accused him of anti-national intent. 
 
READ ALSO: <a href="http://www.businessinsider.in/Swamysays-Raghuram-Rajan-is-leaking-secrets-and-defending-US-power-gives-Modi-6reasons-to-sack-him/articleshow/52450672.cms">Swamy says Raghuram Rajan is leaking secrets and defending US’ power, gives Modi 6 reasons to sack him</a> 
 
Speculations are also rife that Rajan wants to return to the United States. Rajan reportedly told the central government that once his term ends, he would return to the United States. Quoting sources close to Rajan, a report said he had plans to join an American university and pursue research on the Indian economy. 
 
(Image: Indiatimes)

Raghuram Rajan speaks out on uncertainty over his second term as RBI Governor

The <keyword id="75952" type="ORGANIZATION" weightage="100" keywordseo="Supreme-Court-of-India">Supreme Court of India</keyword> has said that it would like if the total amount of outstanding loans given by banks to various individuals and entities are made public. Apparently, these loans run into lakhs of crores of rupees. 
 
"This information does make out a case. This is quite a substantial amount which is involved," a bench comprising Chief Justice T S Thakur and Justice R Banumathi said. 
 However, the central banking authority, <keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI), has said that there are confidentiality clauses involved and if disclosed, the figure will have its own impact. 
 
The bench said that it has noted that the issue was important, and will examine if the total amount of defaulting loans running into crores of rupees can be disclosed. It also asked the parties involved in the matter to frame various debatable issues regarding the matter. 
 
A petition was filed in 2003 by NGO Centre for Public Interest Litigation (CPIL), which had originally raised the issue of loans advanced to some companies by state-owned Housing and Urban Development Corporation (HUDCO). As per the plea, about Rs 40,000 crore of corporate debt was written off in 2015. 
 
The Supreme Court had earlier directed the RBI to provide a list of companies which are defaulters of bank loans of over Rs 500 crore, because the sum involved is huge and poses serious concern over the rise in bad loans. RBI was given a time frame of six weeks to provide the list of companies whose loans have been restructured under corporate debt restructuring schemes.

Supreme Court wants the loan default amount to be made public, RBI resists

For the pilots of <keyword id="120816" type="General" weightage="80" keywordseo="go-airlines" source="Orion">Go Airlines</keyword> (India) Ltd, it seems their employer is a "no go airline" and the race is on as to who will board the <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword>. Incidentally, Go Airlines' brand is Go First and for the pilots it seems to "get away first". "The pilots from Go Airlines are experienced and they are ready to fly. It will be a good catch for Air India," a senior pilot told IANS preferring anonymity. According to him, the hiring will be for Air India and not a common recruitment for Air India, Vistara and AirAsia. "Ultimately Vistara and AirAsia may be merged with Air India. So there is no point going there and coming back to Air India," the official added. According to reports, Air India has extended the walk-in interview at Gurugram for Airbus A320 pilots by a day owing to a large number of applicants from Go Airlines. The <keyword id="7629" type="General" weightage="50" keywordseo="wadia" source="Orion">Wadia</keyword> group's Go Airlines has filed for a voluntary insolvency petition with the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="50" keywordseo="nclt" source="Orion">NCLT</keyword>) and grounded its flights for some time. It is said <keyword id="124937" type="General" weightage="50" keywordseo="indigo-airlines" source="Orion">Indigo Airlines</keyword> too is getting applications from Go Airlines pilots. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/britannias-q4-net-profit-rises-47-yoy-to-559-crore-on-softer-input-costs/articleshow/100017366.cms">Britannia’s Q4 net profit rises 47% YoY to ₹559 crore on softer input costs</a> <a href="https://www.businessinsider.in/business/news/indigo-airlines-stock-to-surge-further-as-go-firsts-troubles-mount/articleshow/100009541.cms">The skies are clearer for IndiGo stock to surge further as Go First’s troubles mount</a> <a href="https://www.businessinsider.in/finance/banks/news/raghuram-rajan-speaks-out-on-zombie-companies-a-simmering-real-estate-time-bomb-more/slidelist/100014762.cms">Raghuram Rajan speaks out on zombie companies, a simmering real estate time bomb &amp; more</a>

You Searched For "petition for Raghuram Rajan" and got 4 results

Nearly 66,000 people signed a petition that asks for RBI Governor Raghuram Rajan's second term

BI India Bureau

Raghuram Rajan speaks out on uncertainty over his second term as RBI Governor

Akanksha Jain

Supreme Court wants the loan default amount to be made public, RBI resists

BI India Bureau

Air India to get ready to go pilots from Go Airlines

IANS

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