Raghuram Rajan Quotes

On the retail side, I particularly want to emphasize the use of the unique ID, Aadhaar, in building individual credit histories. This will be the foundation of a revolution in retail credit.

Not taking risks one doesn't understand is often the best form of risk management.

Indeed, if what you do offends me but does not harm me otherwise, there should be a very high bar for prohibiting your act. After all, any ban, and certainly any vigilante acts to enforce it, may offend you as much, or more, than the offence to me. Excessive political correctness stifles progress as much as excessive license and disrespect.

Expectations are high. Clearly I am not a superman. There is a little bit of euphoria in India. I have a wife and two kids.

A 007 James Bond image is very dangerous for a central banker to have.

Incidentally, the Reserve Bank of India (RBI) Governor, Raghuram Rajan, has single-handedly brought a huge slowdown to the Indian manufacturing sector and exports. As a doctor, he has believed that the best way to bring down the temperature of a patient (i.e., inflation) is to kill him (investment starvation).

If you are an outsider looking at India, learn to filter out both the irrational exuberance and the excessive pessimism. We're subject to both. You will become manic-depressive if you follow our moods.

Improving the opportunities across the board is extremely important to sustain the legitimacy of wealth. If a whole horde of people, whole sections of society don't feel they have the opportunities, then the focus is going to be on those who have it and who have made it and say that is illegitimate.

If Rajan gets one more term you can safely say bye to all investment and therefore high growth in this country … he’s from [University of] Chicago so he is not fit for this country … there they believe that more free market the better but in India market failures take place and you’ve got to correct for that.

Promoters do not have a divine right to stay in charge regardless of how badly they mismanage an enterprise, nor do they have the right to use the banking system to recapitalize their failed ventures.

I think we have still to get to a place where we feel satisfied. We have this saying - "In the land of the blind, the one-eyed man is king". We are a little bit that way.

Mr Raghuram Rajan is an outstanding man who understands central banking. He is probably only one in the world among the crowds of professors at central banks that actually has a good grip on monetary policies and what you can or cannot achieve with them. He should get the Noble Prize in economics but the others are all money printers at heart, all of them.