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Smooth operator Raghuram Rajan in America: top 10 quotes

16 Oct 2013, 05:11 PM IST
NDTV Profit
NDTV Profit
  1. "Expectations are high. Clearly I am not a superman. There is a little bit of euphoria in India," Raghuram Rajan told a Washington audience at an event organised by the Institute of International Finance. "I have a wife and two kids," said the RBI Governor.
  2. "If you are an outsider looking at India, learn to filter out both the irrational exuberance and the excessive pessimism. We're subject to both. You will become manic-depressive if you follow our moods," the RBI boss said in Massachusetts.
  3. "The correct question is: are you going to raise rates or not? The answer is: I'm not going to tell you," Raghuram Rajan told an academic audience at Harvard Business School in Cambridge, Massachusetts.
  4. "There's no way we are close to being a country (India) in financial or economic crisis...There's not a chance we will go to the IMF (International Monetary Fund) for money in the next five years," Dr Rajan said at a debate on global economy.
  5. "I have to say that there are a number of countries that would stay some distance from the IMF, because it would be politically very difficult for them to get anywhere very close unless they were desperate," Dr Rajan said at an Institute of International Finance event in Washington.
  6. "The IMF is an incredible institution. I value that institution, having worked for it," said Dr Rajan, who was the chief economist at the IMF between 2003 and2007.
  7. "We (India) do not worry about that issue (US defaulting). We are not selling our US assets. We are holding on to them," Dr Rajan told a Washington audience.
  8. "We (India) need to bring back growth now. But we're still doing better than a significant number of economies in the world," Dr Rajan said in Washington.
  9. "The problem of being in academics and then getting into these positions is that there is a well-documented trail of thinking, when you are allowed to think," he said.
  10. The RBI is gearing up to unveil banking sector reforms, which would allow foreign banks to enter the Indian market in a "big way". "That is going to be a big opening because - one could even contemplate taking over Indian banks, small Indian banks and so on," Dr Rajan said in Washington, adding that the policy framework for the entry of foreign banks in India is likely to be unveiled in the next few weeks.
(With inputs from agencies)
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