Rajan’s exit will not hurt bank reforms: World Bank

TIL Desk/Business/New Delhi-Banking reforms led by RBI Governor Raghuram Rajan would not be hampered when he exits in September as India’s macroeconomic policies are fairly strong, World Bank Country Director India Onno Ruhl said on Monday.

“I really want to point out that India has a really very strong macroeconomic policies and an effective and conservative supervisor. So there is no reason to expect that (banking reforms) to change,” Ruhl told.

He was responding to a query whether the impending change of guard at the Reserve Bank of India will impact the reforms initiated by Rajan. “I don’t have the ability to predict the future, I just have to say that we fully respect Dr Raghuram Rajan’s personal decision,” he added.