After Raghuram Raja officially took over as the Governor RBI, industry leaders including FICCI, CII, FIEO, Assocham and top bankers expressed confidence on the new Governor. The industry leaders, in one voice, stated that Rajan is the best choice given the current situation of the economy and has the ability to bring the country out of this currency crisis.
State Bank of India’s Chairman, Pratip Chaudhuri said, “Dr Rajan has too much of intellectual reputation and we wish him all the best.” SS Mundra, Chairman and Managing Director of Bank of Baroda expressed his confidence on the impeccable experience and capability of Rajan and added that he is best suited for the job and can rescues the country out of the current difficult times.
Kotak Mahindra Bank vice-chairman Uday Kotak also expressed his faith and added, “It is good to have a governor with this background to lead the country.” Prior to take the Governor’s post, Rajan served as the Chief Economic advisor to the Prime Minsiter in the Ministry of Finance.
“He (Rajan) is assuming office at one of the most difficult times in our recent economic history. CII is confident that as the new Governor, Dr Rajan would be able to deal with the complexities that the RBI is faced with,” CII Director General Chandrajit Banerjee said.
Federation of Indian Chambers of Commerce and Industry’s (FIICI), Secretary General, Didar Singh also added his congratulation to the young Governor and expressed concerns which Rajan should keep at his focus. He added, “Reviving growth, giving an impetus to investments, arresting the downslide in the Rupee value and keeping inflation under check are the areas that merit attention.”
ASSOCHAM, President Rana Kapoor said, “The industry will extend full support to the RBI in jointly facing up the challenges thrown mainly by the global factors. We are sure, that as soon as the situation so allows, reversing interest rates downward along with taming inflation would be Dr Rajan’s top priorities.”
M Rafeeque Ahmed, FIEO President, said: “He is the right person to handle our financial markets as he is likely to be innovative about the banking sector.