Raghuram Rajan wins 'Governor of the Year' award
Mumbai, Jan 13: RBI chief Raghuram Rajan has been named as the "governor of the year" in the Central Banking Awards for 2015 by a British magazine for "his deep understanding of the root causes of economic problems of the country combined with an impressive leadership style."
The British magazine Central Banking, announcing the name of Raghuram Rajan as the Governor Of The Year said, "Rajan's disciplined and focused approach in leading the Reserve Bank during his first year as governor was remarkably impressive."
This
is
the
second
award
by
the
London-based
magazine
and
will
be
presented
in
the
British
capital
on
March
12.
"Although
there
is
still
much
to
do,
his
decisive
policy
actions
based
on
robust
analysis
and
deep
understanding
of
the
underlying
causes
has
contributed
significantly
to
changing
perceptions
about
the
strength
of
the
Indian
economy," Central
Banking
editor
Christopher
Jeffery
said
in
a
statement
issued
from
London.
It further noted Rajan, who was the chief economist of IMF and a well-known economist and author's forthright observations about some of the less welcome developments in the global economic, financial and monetary system also represent an important voice for change.
"His insights combined with his strong leadership skills make Rajan an inspirational figure in the central banking community," Jeffery said, adding Rajan has enjoyed a trail-blazing first year as RBI governor.
In accepting the award, Rajan said, "I am honoured to be named governor of the year by the magazine. This is a recognition of the part the Reserve Bank and its staff have been playing in bringing macroeconomic stability to our economy, in creating more competition and new growth opportunities in the banking and financial markets, as well as in expanding financial inclusion.
"Of course, no central bank works alone. The important role played by the government in maintaining fiscal discipline, in initiating growth-friendly structural reforms and in launching ambitious new financial sector programmes such as rolling out bank accounts for all, has been critical to any success the economy has had, and is likely to have.
"Moreover, all our collective efforts should be seen as work in progress; inflation has to be fully tamed, growth has to be brought back to potential and the banking system cleaned of distressed assets, even while we build the platform for the financial sector to support strong and sustainable growth.
"But I am convinced we are moving in the right direction and believe developments will affirm this," Rajan said.
PTI