Former RBI governor Raghuram Rajan today opened up on a host of key issues like demonetisation and GST in a no-holds-barred interview to various news channels. He also shed light on how his tenure ended, which had given rise to widespread speculation in various quarters.Here's what he said in the candid and direct interview:* I had a 3-year term, that ended. Only govt can answer why* The govt never put restriction on me* I was open to staying, the govt didn't offer me a new contract* I wanted to clean up banks* I didn't want to compromise on my agenda* GDP and informal economy have both suffered due to note ban * DeMo hasn't been able to identify black money hoarders* Demonetisation has come at a huge cost for Indian economy* Upfront cost of printing, distraction for top bk mgmt due to DeMo* Demonetisation can have a chilling impact* RBI offered an opinion on alternative approaches to note ban* Civil servants just can't oppose a govt policy like DeMo* GST created short-term uncertainty* DeMo was one of the factors that hit growth, others include twin balance sheet problem* Note ban impact can't be accurately measured* Parliament had asked govt to seek RBI's opinion on note ban* Awaiting revision to GDP to measure impact of note ban* No one believed we would reach inflation guide path when we'd set the target* Need to make NPA resolution a time-bound process* Confidence in bankers to take right decisions is missing* India has an asymmetric system, too harsh on small biz and too lax on big ones* PSU bank mergers can create yet another distraction* To talk of merger without cleaning up bad debt is like shooting in the dark