"I was against demonetization.
I did not think it would be a useful thing to do. And I tried to explain why I did not think it as useful.
I asked my people, ‘Can we
oppose it? And will our will
prevail?’ And they said, ‘No, we cannot. The government can give us directions, and we will have
to obey the government.’”
Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of
Finance at the University of Chicago,
Chicago Booth School of Business and the
23rd Governor of the Reserve Bank of India, The Indian Express, December 18, 2023
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