A senior government official told Reuters there were seven candidates on an initial long list to replace Rajan.0 percent fall in the rupee.The others are Vijay Kelkar, Rakesh Mohan, Ashok Lahiri, Subir Gokarn and Ashok Chawla, said the official, speaking on condition of anonymity due to the sensitivity of the matter."

Another senior official said Rajan’s criticism of rising intolerance in India was seen as direct interference in politics, complicating a decision on whether to re-appoint him. It’s his decision and we will do what best can be done," said one senior aide to Modi."Say Goodbye!"Rajan, who is on leave from the University of Chicago, had faced strident criticism from right-wing members of Bharatiya Janata Party, including parliament member Subramanian Swamy, who has waged a campaign against his economic policies."I wasn’t aware of this and I don’t think any of us were," said a senior policymaker who works closely with Rajan.Swamy, a Hindu nationalist and former Harvard economist, tweeted his delight that Rajan "has said he will go back to U.The official played down concerns that Indian markets might swoon on Monday.

In a letter to RBI staff, Rajan said he planned to return to academia.They are mostly veterans of the RBI, the Indian civil service or the two major global financial bodies, the International Monetary Fund and World Bank.S."I’ll be very frank with you – that is not our assessment," he said. A decision on his successor would be announced shortly," Finance Minister Arun Jaitley said in a tweet on Saturday. Say goodbye!"Swamy had described Rajan as "mentally not fully Indian"."REXIT"While there had been some speculation Rajan might not stay for a second term - dubbed "Rexit" in a nod to Britain’s vote on European Union membership - government officials said they were surprised by the timing and manner of the announcement. Chidambaram, the Congress finance minister who appointed Rajan, said he was profoundly saddened by the decision. "Looks like the government has taken a decision and he (Rajan) came to know about it and then sent this letter. What’s unnerving is the timing," he said, adding he expected at least a 1.Read: Seven names on long list to replace RBI’s Rajan: official"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," Rajan wrote.Rajan, a former chief economist at the International Monetary Fund (IMF), is held in high esteem by policymakers and investors at home and abroad for overhauling the way the Reserve Bank of India (RBI) operates. The government had invited this development through a craftily planned campaign of insinuations, baseless allegation and puerile attacks on a distinguished academic and economist," he said in a tweet."The government appreciates the good work done by him and respects his decision."I will, of course, always be available to serve my country when needed."It will be the first time since 1992 that an RBI governor has departed after a single three-year term.Long ListRajan’s departure was likely to roil markets on Monday, analysts said, at a time when global factors such as Britain’s referendum on European Union membership are already weighing.Read: Rajan did ’extraordinary job’ as RBI chief: Infosys CEO Sikka"Rajan put this in an open letter.

The "rock star" RBI governor Raghuram Rajan, feted by foreign investors but under pressure from political opponents at home, stunned government officials and colleagues on Saturday by announcing he would step down after just one three-year term. "Our assessment is that, if at all, there would be some mild tremors.5-2.In a letter to RBI staff, Rajan said he planned to return to academia, even as he noted two of his actions - the creation of a monetary policy committee to set interest rates and the clean-up of the heavily indebted banking sector - remained unfinished.P.

Many of Rajan’s key accomplishments have come in close collaboration with the Modi government."It’s a volatile period and as an investor I feel this was unnecessary."What Mr Rajan wanted was to build a stronger institution and that cannot be one person, the market understands that. Whatever fig leaf he wants for hiding the reality we should not grudge it. Rajan pushed for inflation targeting to tackle India’s history of volatile prices, which was then made law by the government last year.Hailed as a "rock https://www.signs-factory.com/product/plane-hollow-sign/brass-letter/ brass signs wholesale star" and "James Bond" by the media when he was appointed by the previous Congress government in September 2013, Rajan won praise for his sure-footed handling of the country’s worst currency crisis in more than two decades."

In a move to pre-empt concerns the government lacked a credible field of replacements, the senior official said the candidates on the long list to succeed Rajan included RBI Deputy Governor Urjit Patel and Arundhati Bhattacharya, who is chair of State Bank of India, the country’s largest bank."Still, Rajan was known to have a good working relationship with Modi, who called the RBI governor a "good teacher" on economic matters, and officials had previously told Reuters that Modi’s administration would re-appoint the governor, should he wish to stay on.

But he has faced mounting criticism from a faction within Prime Minister Narendra Modi’s ruling party for keeping interest rates high and over a perception that he had begun to stray into politics. Mr Rajan brought a lot of credibility to that post and if we have a name with a similar CV, that will go a long way to reassure markets. His term was ending in September anyway, they could have waited until then," Salman Ahmed, chief investment strategist at Lombard Odier Asset Management in London, said."I am not surprised at all."My recommendation to the government is to appoint a successor as soon as possible.

He was expelled from the party for this decision.Without taking any names, in all probability, the average Indian from outside their states is hardly aware of their political importance.Also, neither of their names are as strongly associated with the Congress nationwide as are those of the members of the Gandhi family.

This is not surprising.Hence, at present, the selection of a non-Gandhi to head the party demands building their image from the grassroots on an extensive scale. Besides, their party is not the only one that performed miserably in the 2019 general election. The party needs to give greater importance to functioning as a team.

Nevertheless, party propaganda coupled with media coverage has definitely led to their moves being taken greater notice of by people compared to those by other Congress leaders.This refers to the formal induction of Priyanka in the party as general secretary of Uttar Pradesh’s east wing when just a few months were left for the 2019 Lok Sabha polls.The storm created over a letter demanding change in the Congress Party’s leadership has certainly dominated newspaper headlines for a while now.The political drama that followed the letter has certainly helped the letter writers garner attention. It has nothing to lose by testing and judging the electoral potential of non-Gandhi members in the national domain.The big question is, whether other members are willing to take the risk.The party needs to start according importance to image-building exercises for other members, too, from now on.Undeniably, Sonia, Rahul Gandhi and Priyanka Vadra belong to the privileged classes. In 2008, Somnath Chatterjee chose to stick to his guns; as Speaker of Lok Sabha, he did not vote along the party line.How many people outside West Bengal know the names of anybody other than Mamata Banerjee with the Trinamul Congress? The same can be said about Mayawati and her Uttar Pradesh-based BSP, Mulayam Singh Yadav/Akhilesh Yadav and the SP as well as Lalu Prasad’s RJD in Bihar. Can the party afford to do this? Every Congress leader does not hold the same appeal to the people as the three Gandhis do.

They have made a point, democratically speaking.Of course, the Congress is not a regional party and it is expected to give greater importance to a democratic process for electing its leaders. The Left parties, too, attach importance to following party rules and protocol. Their political reach is limited to their regional domain, while others are known more for their professional and intellectual accomplishments than anything else.Now let us consider this issue from another angle. And perhaps even their association with the Congress Party. Can the same be said about other Congress members? It will probably take a decade for the party’s political culture to reach a stage where that is the fact.Strict adherence to these rules has prevented their senior leaders from rising in political stature. Electoral campaigning is not a cakewalk.Additionally, the effect of their huge presence in nationwide electoral campaigns cannot be ignored. These two examples show that at times strict adherence to party rules can prove extremely costly.

Given that no basic change is expected in the party’s leadership, what can be inferred from this political drama?One can call it nothing but, considering the nature of the letter, the political stature of its writers and subsequent developments ending in Sonia Gandhi continuing as interim president.A united Congress has a chance to strengthen its ranking; divided, the futures of all party members are at stake!. This was why Jyoti Basu of the CPI(M) could not become the country’s Prime Minister in 1996.Sonia Gandhi has held this post since Rahul Gandhi’s resignation as president following the dismal performance of the Congress in the 2019 parliamentary polls. Their simple message apparently is that their roles in party politics must not be sidelined.Crowds drawn by these leaders certainly help them gain media coverage and also spell a headache for rival parties. The letter writers certainly don’t seem to have any inclination either to quit the party or be considered for heading it.Besides, they need to start planning for the 2024 parliamentary polls from right now and not leave crucial decisions till the last minute.Deviation by the CPI(M) in these two cases may have spelled its rise instead of decline.

India’s political map may not have been the same as what it is today.Now surely, the democratic culture of any political party cannot solely be decided https://www.signs-factory.com/product/illuminated-sign/light-box-letter/ China light box signs Suppliers by its top-ranked members, mostly hailing from the elite and privileged classes? How can that be?Also, it might just be difficult for the average Indian to understand whatever may be communicated to them by elites. It may perhaps be more appropriate for Congress members to deliberate at present on teamwork and possible alliances advantageous to them in the coming Assembly elections. Gaining media coverage is also not easy for all.

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The BJP, predictably, ridiculed the efforts of the three parties to stake claim to form the government and parade their MLAs before the media. We have arrived — clear our way.

They have not only insulted the legislators, but also the people who elected them as their representatives. I will not do anything which will benefit the BJP,” all MLAs pledged together.The Shiv Sena and Congress’ MLAs were brought to the hotel in air-conditioned buses at around 7 pm, and were joined by NCP legislators who have been staying at the hotel. “The process of forming the BJP government is already on.“I swear that under the leadership of Sharad Pawar, Uddhav Thackeray and Sonia Gandhi, I will be honest with my party.”Mr Shelar added that Sena founder Balasaheb Thackeray’s legacy was dented when Aaditya Thackeray took the pledge to be loyal to Congress president Sonia Gandhi.

“There will not be any problem in proving our majority. All the MLAs were asked to stand up and take a pledge while invoking the Constitution that they would not fall prey to any inducements by the BJP. On the day of the floor test, I will bring more than 162 MLAs. He was accompanied by Shiv Sena’s Eknath Shinde and Vinayak Raut, Congress’ Ashok Chavan and Balasaheb Thorat, and Samajwadi Party chief Abu Azmi, among others. I will take personal responsibility to ensure no MLA loses Assembly membership for voting against the BJP,” he said.Commenting on the parade, Mr Shelar said, “An identification parade is carried out to identify criminals. I won’t be lured by anything.”NCP president Sharad Pawar also addressed the MLAs and assured them not to worry about Ajit Pawar.Earlier in the morning, a joint delegation of the three parties submitted a letter to the governor, staking their claim to form the government in the state. “It was an exercise carried out by leaders whose confidence has been shaken only to reassure themselves,” Mr Shelar said.

“In a democracy, only the majority number holds importance.“We are in a position to bring 162 MLAs before the Maharashtra governor at any given time,” he said.. The Congress has still not elected its legislative party leader and Shiv Sena has named its chief minister,” Mr Shelar said. “Once Mr Fadnavis fails to prove his majority in the floor test, Shiv Sena’s claim for government formation should be considered,” the letter read. Those with a majority should be given an opportunity,” he said.Earlier in the day, they also submitted a letter signed by 162 MLAs to governor Bhagat Singh Koshyari which said that they parties should be invited to form the government if the Bharatiya Janata Party (BJP) fails to pass the floor test in the Assembly.BJP leader Ashish Shelar said the letter submitted by the parties to the governor was “bogus”. We want the minority government formed on November 23 to resign as it can’t prove its majority.The “parade” was held at Grand Hyatt hotel, Santacruz, in the presence of Shiv Sena leader Uddhav Thackeray, NCP chief Sharad Pawar and Congress’ Mallikarjun Kharge. We are starting from Maharashtra, and then we will move ahead. With this show of strength, the three parties, which were beaten by the BJP in forming the government in Maharashtra, stepped up their efforts to prove that they have the majority to form the government.

The Shiv Sena, Congress and the Nationalist Congress Party (NCP) on Monday evening conducted a joint “parade” of 162 MLAs supporting their alliance government at a five-stall hotel in Mumbai. This is not Goa, this is Maharashtra.NCP leader Jayant Patil alleged that https://www.signs-factory.com/product/illuminated-sign/light-box-letter/ Custom Light Box letter Signs suppliers the current government in Maharashtra has been formed on the basis of “false papers and documents”.BJP leader and Union minister Raosaheb Danve also said that the letter had no value. Apart from 51 NCP legislators, Shiv Sena’s 56 MLAs and the Congress’ 44 legislators, 11 MLAs from smaller parties and Independents also attended the event. Today, Congress, Shiv Sena and NCP paraded their legislators like criminals.Speaking at the “parade”, Mr Thackeray said, “The BJP will have to make way for the Sena-NCP-Congress alliance government in Maharashtra.

We are not here for just five years.Mr Shinde said that a letter of support from the 162 MLAs was submitted at Raj Bhavan. The one who is suspended from the party cannot give any orders. Mr Fadnavis will prove his majority comfortably on the floor of the Assembly,” he said.“It is a bogus letter as technically Ajit Pawar is still the leader of the NCP’s legislature wing and he has extended support to the BJP. The strength of our alliance cannot be captured on any camera lens.