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‘Three-year tenure for RBI governor is short’

Global practice has to be emulated in India as well, says Rajan

Policy Pulse
Publish Date: Jun 30 2016 8:10PM | Updated Date: Jun 30 2016 8:10PM

‘Three-year tenure for RBI governor is short’

 RBI governor Raghuram Rajan, whose three-year tenure is going to end in September, pitched for a longer tenure for the central bank head

 
He said that global practice has to be emulated in India as well.
 
In a meeting with  Parliament's standing committee of finance, Rajan was asked by members on what should be the tenure of the RBI governor, reports said.
 
He told the members that a three-year term is "short".
 
On whether it should be five years, Rajan is believed to have cited the case of US Federal Reserve.
 
In the US Fed, the chairman and vice-chairman serve terms of four years and may be re-appointed to those roles who in turn serve till their terms as governors end.
 
Rajan has already said no to a second term.