Here are some of the reactions by politicans and industrialists on his exit:
India was lucky to have had the services of an outstanding economist like Rajan as the Governor of RBI. His performance was acclaimed not just in India but throughout the world. Experts in economics agree on that. I hope his leaving will not make other green card holders of Indian origin in the US and Indian permanent residents of other countries less confident about adding value to India.
NR Narayana Murthy, Co-founder of Infosys
RBI Governor Raghuram Rajan not seeking second term - Academic gain. RBI loss He leaves a legacy of economic stability.
Kiran Mazumdar Shaw, Chairman and Managing Director Biocon
He has been an extraordinary governor and we wish him all the best in his life and academia. I would love to see if there is some way to work together but he has done an extraordinary job and we wish him all the best
Vishal Sikka, Infosys CEO
Globally acknowledged. Inflation warrior. Economic guru. Independent mind. Bank surgeon. Raghuram Rajan leaving is a loss to the nation.
Harsh Goenka, RPG Enterprises Chairman
Dr Rajan is a person of very high caliber, who has built ably on the reputation of our Central Bank and given it a very large measure of credibility.
Arundhati Bhattacharya, SBI Chairman
I have already commented that we must acknowledge that Governor Rajan substantially improved India's International credibility. However we mustn't give the impression that there isn't sufficient talent in the country to succeed him and sustain India's credibility.
Anand Mahindra, Chairman and Managing Director of Mahindra Group
We are losing one of the most skillful financial economic thinkers in the world. It is sad for the country and it is sad for the government of the country too. RBI is not a completely autonomous institution
Dr Amartya Sen, Nobel Laureate
Dr Raghuram Rajan has announced his intention to go back to academics at the end of his current assignment. The government appreciates the good work done by him and respects his decision.
Arun Jaitley, Union Finance Minister
Raghuram Rajan is an employee of the Government of India. We don't select employees on the basis of popular vote
Subramanian Swamy, BJP lawmaker
Thank you Dr Rajan for steering the economy in difficult times. People like you make India great
Rahul Gandhi, Congress Vice President
It is sad that we have to stand here today and justify ourselves. That we have been made to stand for a stamp of approval from the government. We are just filmmakers, didn't know we had to do all this for a film.
P Chidambaram, Congress leader