Raghuram Rajan whose current term as the Governor of Reserve Bank of India ends on September 4 has said he would not like to continue in the position for a second term. In a statement release this is what he had to say:

"While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016. I will, of course, always be available to serve my country when needed".