The announcement of Raghuram Rajan's impending departure from the Reserve Bank of India came on a Saturday, avoiding any chance of the stock markets reacting sharply to the big news. But it also came on the same day that news emerged of former Indian cricketer Chetan Chauhan being appointed to head the National Institute of Fashion Technology.
The comparisons were, of course, inevitable and, thanks to Twitter, immediate:
This is a conspiracy. Chetan Chauhan has been short changed. As a banker, he would have fitted into RBI really well …
— V Vinay (@ainvvy) June 18, 2016
Earlier, the former Indian opening batsman, when asked how he planned to balance the multiple roles, including at Delhi & District Cricket Association and his company Coral Newsprint, had responded with: “I will spend 60% of the time in DDCA, 30% at NIFT and 30% in my business.”
Chetan Chauhan has offered 10% of his time for RBI if required.
— dorku (@Dorkstar) June 18, 2016
By itself it is not that surprising that a United Progressive Alliance appointee like Raghuram Rajan would not get a tenure extension. His insistence on a hawkish monetary policy approach as well as his prominent stature abroad, which meant he could criticise Narendra Modi and Arun Jaitley's policies without immediate retribution, also added to the impression that the government would be better off without him.
Other UPA appointees that have managed to stick around after the new government came in tend to be more in the mould of Delhi's Lt Governor Najeeb Jung, willing to toe the Bharatiya Janata Party line as and when necessary.
But the announcement on the same day that a former cricketer was picked to run NIFT has allowed the conversation to become about the manner in which the BJP government appoints heads of institutions. The rather public and embarrassing pronouncements of people like Film and Television Institute of India head Gajendra Chauhan and Central Board of Film Certification Pahlaj Nihalani only serve to drive this point further home.
#RaghuramRajan withdraws from 2nd term.
— Ramesh Srivats (@rameshsrivats) June 18, 2016
Ok. Let Gajendra Chauhan, head of FTII, & Chetan Chauhan, head of NIFT decide who'll be head of RBI
Waiting for Atab Shivdasani to be appointed as RBI governor.
— Shree (@whyrus_) June 18, 2016
And of course, talk of Rajan leaving cannot be made without mentioning BJP leader Subramanian Swamy's public campaign against the RBI governor which included calling him "mentally not fully Indian," an American agent and even bringing up Section 377.
I don't have any idea if Raghuram Rajan was any good, but if Swamy hated him he must have done something right?
— Vinay Aravind (@vinayaravind) June 18, 2016
The economics of the remaining portion of Modi Sarkar will be Swamy Sharanam.
— SANJAY HEGDE (@sanjayuvacha) June 18, 2016
Others, meanwhile, thought the news had much to say about the atmosphere for those in public posts in India.
So many of the smartest minds are ready to work for the Modi govt, we find it unable/unwilling to recruit them. This is inexplicable & sad.
— Nitin Pai (@acorn) June 18, 2016
Right call, Raghuram Rajan. Intellect & global respect is his capital. Why trade it for a chair in a tank filled with petty, mediocre sharks
— Shekhar Gupta (@ShekharGupta) June 18, 2016
Where is the government going to find another south Indian IIMA alum NRI handsome intelligent man to become next RBI Governor??
— Granit Chacko (@sidin) June 18, 2016
The question isn't whether #RaghuramRajan is replaceable. Of course he is. The question is should he have been. That answer is no.
— Akshay Jaitly (@AkshayJaitly) June 18, 2016