The finance ministry hosted a farewell dinner in the honour of outgoing RBI Governor Raghuram Rajan on Saturday, a day before he demits office. The dinner was attended by Finance Minister Arun Jaitley along with other senior officials of the ministry. The three-year term of Rajan comes to end on Sunday when he hands over the baton to his deputy Urjit Patel.
Former IMF chief economist leaves behind a strong legacy with highest ever forex reserves, low inflation and high economic growth. It has been eventful journey for the man who predicted 2008 global economic crisis and is known for airing his views freely and frankly even at the cost of annoying the high and mighty.
When he took the reins of central bank, India currency was in the midst of the Taper Tantrum. Rupee had hit life time low of 68.91 in August 2013 firmed up to 63.8 in early September that year.
(With PTI inputs)