India central bank boss to step down in surprise move

Raghuram Rajan, the governor of India's central bank, is to step down in early September at the end of his term, reports BBC.
He had been expected to stay on in the role but will return to academia.
Rajan had been "open" to continuing after his initial three-year term, but has made his move after "due reflection and consultation with the government". The former IMF economist, who was one of the few to predict the 2008 financial crisis, has been praised for his handling of the Indian economy.
It is now the fastest growing major economy in the world.
He has faced pressure from a faction within Prime Minister Narendra Modi's ruling party for keeping interest rates high.

India central bank boss to step down in surprise move

Raghuram Rajan, the governor of Indias central bank, is to step down in early September at the end of his term, reports BBC. He had been expected to stay on in the role but will return to academia. Rajan had been open to continuing after his initial three-year term, but has made his move after due reflection and consultation with the government. The former IMF economist, who was one of the few to predict the 2008 financial crisis, has been praised for his handling of the Indian economy. It is now the fastest growing major economy in the world. He has faced pressure from a faction within Prime Minister Narendra Modis ruling party for keeping interest rates high.