Raghuram Rajan had to come back to India to exchange scrapped currency

Vastavam web: Former RBI Governor Raghuram Rajan himself had to come back to India to exchange scrapped currency as he had no clue about the demonetisation date, though the process started during his governorship.Rajan, who ended his three-year term as RBI Governor on September 4 last year, said he had taken some Indian currency with him to the US.The former RBI Governor, currently professor of finance at the University of Chicago, was speaking at an event to launch his book ‘I Do What I Do’.
Rajan said he was asked about his views on demonetisation by the government in February 2016 and he “gave it orally”.He said he had taken along Indian currency to the US and had to come back to India to “actually change that back” into valid currency notes.Asked if he would be willing to return to India for another position or was happy teaching in the US, Rajan said he is not special among the diaspora and there were many people who, if called upon, would come back and do what is necessary.