RBI Governor Raghuram Rajan's long-term desire is to return to academia

MUMBAI: Reserve Bank of India governor Raghuram Rajan would like to go back to academia in the long term but has kept his thoughts regarding his immediate plan to himself, he told NDTV in an interview.

Rajan refused to answer whether he would take another term at the central bank when his current three-year term ends in September. "That is the hypothetical question that I have refused to answer again and again. I can tell you my long term intent always is to go back to the academia. I like ideas, I like to play with ideas, I like to think, so my ultimate home is in the realm of ideas," he said.

Rajan was also asked about the criticism he has been subjected to recently, most prominently from BJP MP Subramanian Swamy who alleged that Rajan is mentally not fully Indian and accused him of purposely trying to damage the Indian economy by keeping interest rates high. Rajan said he won't want to give credence to such criticism.

"There are certain allegations that are so fundamentally wrong and baseless, that even to address them is to give them legitimacy they don't deserve," Rajan said, adding that he "welcomes genuine criticism of our (RBI) policies, we will address them, but where it becomes ad hominem attacks, I don't address them."

On Swamy questioning his Indian-ness Rajan said, "When you think about Indianness or love for your country it is a very complicated thing. For every person there is a different way that you show respect for your country...my mother-in-law will say Karma Yoga is the way to go - do your work and hope that it reflects your love also." He also pointed out that not everyone is against him.

"It's not that everybody is joining in…. My unions come to me and say, 'we fully trust you and we are going to fight hard for you'. That makes me feel really good because these are the people I work with every day and who know me…letters from unknown people saying hang in there…lot of public figures get both praise as well as hate, you just have to take it in your stride."