N R Narayana Murthy voices support for RBI chief Rajan

N R Narayana Murthy, IT industry doyen and chairman of Infosys, has voiced his support for Reserve Bank of India (RBI) Governor Raghuram Rajan and said he should be offered two more terms based on his track record.

 
N R Narayana Murthy (left) bats for a second term for RBI governor Raghuram Rajan  

"India would be very fortunate to have him (Rajan) serve this country for not just one, I would say two more terms," he said.

The remarks come barely a month after Rajan's second term as the chief of the central bank came into question after comments made by Bharatiya Janata Party MP Subramanian Swamy.

In May, Swamy had written to Prime Minister Narendra Modi seeking Rajan's immediate sacking, alleging that he was "mentally not fully Indian" and had "wilfully" wrecked the economy.

On 12 May, Swamy, in his first salvo against Rajan, had said, "In my opinion, the RBI governor is not appropriate for the country. I don't want to speak much about him. He has hiked interest rates in the garb of controlling inflation that has damaged the country."

Murthy, however, is not alone in contradicting Swamy's stand, as Rajan has the almost unanimous backing of India Inc.