Domestic financial services firm Ambit issued a mixed report card on Reserve Bank of India (RBI) Governor Raghuram Rajan and called the central bank chief’s macroeconomic management “almost exemplary”.
“Our assessment suggests that Dr. Rajan’s performance in office was above average but could have been better,” Ambit said.
Highlights of his tenure include calming the slide of the rupee last year, Ambit said, adding that Mr. Rajan is also focused “firmly” on inflation, though it still has not been enough to change inflation expectations.
However, supervision of the financial system “continues to be sub-par”, Ambit said. Mr. Rajan needs to do more to spur banks to deal with their asset quality, the brokerage firm said.
