Rajanspeak: Quotable quotes from the outgoing RBI Governor

Raghuram Rajan was known to speak his mind. Business Standard brings you some of his most memorable quotes

"Strong governments may not move in the right direction. Hitler provided Germany with extremely effective administration, but Hitler took Germany efficiently and determinedly on a path to ruin, overriding the rule of law and dispensing with elections."
--At a lecture on 'Democracy, Inclusion and Prosperity' in Goa, February 20, 2015

We should improve the environment for ideas through tolerance and mutual respect. Excessive political correctness stifles progress and a quick resort to bans will chill all debate.
--At the convoction address, IIT Delhi, October 30, 2015

"As a central banker who has to be pragmatic, I cannot get euphoric if India is the fastest growing large economy"

--At a Pune institute, April 20, 2016

The battle on inflation is never won. It's always a temporary victory because some other factor comes in. The battle we are really fighting today is for credibility."
--At RBI's first bi-monthly monetary policy for 2016-17, April 5, 2016

'The technology for making Dosas hasn't actually changed. Till today that person puts it (Dosa batter) on Tawa, spreads it around and then takes it out, right? There has been no technological improvement there. However, the wages that you are paying to that gentleman....are going up all the time"
--At a Federal Bank event in Kochi, February 13, 2016

“The question is are we happier with lower growth, but no increase in inequality or is it better to have faster growth and tolerate some increased growth in inequality”
--At an Oxford University Press panel discussion, June 9, 2016

“I hate these bird analogies — hawkish, dovish, etc. I would say that it is a realistic assessment of the data that have come in, there are also potential disinflationary pressures, there are also potential inflationary pressures”
--At RBI fourth bi-monetary policy review for 2015-16, June 7, 2016

“It would be cruel of me to spoil the fun that the press is having on my extension

--At RBI fourth bi-monetary policy review for 2015-16, June 7, 2016

"I don’t know what you want to call me... Santa Claus... you want to call me hawk, I don’t know. I don’t go by this. My name is Raghuram Rajan and I do what I do."
--At RBI fourth bi-monetary policy review for 2015-16, September 29, 2015

“The central bank is not a cheerleader for the economy...It is not the role of the central bank to elevate sentiments unduly, to deliver booster shots to the stock market so that it can soar for a while only to collapse when reality hits”

--At FIBAC, Mumbai August 24, 2015

“We cannot have escaped from the Licence Permit Raj only to end up in the Appellate Raj!”
--At DD Kosambi Ideas Festival, Goa. February 20, 2015

“We need a change in mindset, where the wilful or non-cooperative defaulter is not lionised as a captain of the industry but is classified as a freeloader on the hardworking people of this country”
--At the 3rd Dr Verghese Kurien Memorial Lecture at IRMA, Anand November 25, 2014

"We are neither hawks, nor doves. We are actually owls,"
--At RBI third quarter review of monetary policy, January 28, 2014

"I think what is really very interesting and energising is that everybody is talking about it (Brexit), everybody is coming with their studies and their analyses. So, I think you have enough people here talking about it and you would reach a decision whatever it is. So, I don't want to add my two-cents to that."
--At Chicago Booth School, London, June 2016

"The governorship of the central bank is not meant to win one votes or Facebook “likes”. But I hope to do the right thing, no matter what the criticism, even while looking to learn from the criticism."

--At maiden press conference after taking over as RBI governor, September 4, 2013

“The real point is again: It is not absolutely clear that throwing the money out of the window, or targeted cheques to beneficiaries... will be politically feasible in many countries, or produce economically the desired effect"
--At London School of Economics, May 10, 2016