Rajan a ‘great’ central bank governor: WB president

TIL Desk/Business/New Delhi-Describing Raghuram Rajan as a “great” central bank governor, World Bank President Jim Yong Kim today said he has been told by the Indian leadership that Reserve Bank will continue to have an independent head.

“What I heard from Prime Minister Narendra Modi and members of his team is that there is not going to be much change. They will continue to have an independent central bank governor, and the policies that have lead to good outcomes will continue,” Kim said in an interview.

The World Bank President described Reserve Bank chief as a “great” central bank governor, saying he tremendously respected Rajan as an academic.Kim added that Rajan, Prime Minister and the government have been communicating very effectively.To a question whether he trusts India’s GDP numbers Kim said: “This (methodology of calculation of GDP numbers) is not an exact science, there is no Physics in this, it is really taking many different pieces of data and then making a best guess.”