It is good if Raghuram Rajan gets an extension: Anil Singhvi, Chairman, Ican Investments

In a chat with ET Now, Anil Singhvi, Chairman, Ican Investments, says the whole debate about Rajan getting an extension was intellectually bankrupt. Edited excerpts

ET Now: Your first reactions to the exclusive news break right here on ET Now the RBI governor despite all the noise and controversy and debate around it is likely to get an extension and he is also likely to be keen on one or at least is going to take one, all the news and reports about his reluctance according to our government sources are completely baseless?

Anil Singhvi: I think it is a good news if he continues and government gives him an extension. I think it will be a very good thing for markets and I think it is good for the country as well. Why I am saying it is good because in this point in time I think continuation when there are so many variable globally on that, there is so much of uncertainty, I think continuation is more important. So I am not on to just saying about the person but I am talking about continuation of a person into a job is a very good thing and I think we are fortunate to have Dr. Rajan heading as the governor of RBI today. So I think this whole debate over the last two, three months had taken a very ugly turn and it was completely uncalled for. I was talking to earlier ET Now and my views were same exactly that why are we making so much of noise about the person whether he will remain, he will not remain, look at the background most governors in India, most governors of RBI in India have got extension so what is so great about Dr. Rajan getting or not getting it. There were very few occasions when a person did not get an extension on that so that is an exception rather than a rule. So I found this whole debate completely intellectually very bankrupt.