Modi defends under-fire outgoing RBI chief Rajan

Reuters: Prime Minister Narendra Modi praised outgoing Reserve Bank of India Governor Raghuram Rajan on Monday, days after the central bank chief made public his decision to stand down after just one three-year term.

In his first comments since Rajan announced his decision, Modi said he had a good working relationship with the central bank chief. Modi also defended Rajan in the face of strident criticism from right-wing members of his ruling political party.

Those who created controversies were being unjust to Rajan, Modi told Times Now TV in a rare interview, adding the central banker’s patriotism was ‘no less than any of ours’.