What's Next for Rajan and the RBI?
Just days after Raghuram Rajan announced plans to a return to academia, he’s battling to preserve the Reserve Bank of India’s independence. The government this month revived a proposal to dip into the central bank’s emergency funds to recapitalize commercial lenders hurt by rising bad loans. The idea was first floated in February by the Finance Ministry’s top economic adviser, Arvind Subramanian, a candidate to succeed Rajan as RBI governor. Bloomberg's Sandrine Rastello reports on "Bloomberg Markets Middle East."