Amidst uncertainty over his second term and criticism of his policies, Reserve Bank of India Governor Raghuram Rajan speaks to NDTV in an exclusive interview.



Here are the highlights:



• Will make list of willful defaulters public, but you will chill all risk taking if you name and shame business people who make business decision that went awry.

• When you give a personal guarantee, your assets are banks' property. In that circumstance when you have lavish displays you are basically using public money.

• I am happy with GDP numbers; give or take 1%. Happy that GDP change is consistently positive.

• With growth numbers statisticians have done as good a job as they can. GDP growth is significantly high since costs have come down.

• Competitive businesses not worried about rupee; Hyundai and Ford won't Make in India if not viable.

• Banks can't lend at 4% and pay 6% on deposits.

• People want rates down, but will they deposit at 4%? No. Low interest rates is not a god-given right.

• Want to emphasise that we shouldn't get complacent in India. We have a lot to do.

• It will be wrong for us to beat our chest and say we are best in the world. I don't think any minister would say that.

• We are a country which is growing reasonably strongly, but we have a long way to go even on the basis of our own potential.

• My opinion on Make in India distorted. All I said is with world growth slow, we may have to, for the moment, Make in India largely for India.

• My decisions based on analysis & consultations; I go to sleep well at night except when I am jet-lagged.

• I try to do what I think is right; my work is hard work, it's not glamour.

• One obviously listens to advice from government, but can't succumb to wishes of any party.

• My conversations with Arun Jaitley are extremely cordial; we respect each other's position.

• It may surprise you but I have not had even one serious disagreement with Arun Jaitley.

• Won't answer on second term but long-term intent to return to academia. My ultimate home is in the realm of ideas.

• A lot of people these days are writing my obituary in the papers. Gives me time to reflect on what remains to be done.

• When there is criticism there is also the other side. Unknown people have written me letters. My unions have supported me.

• Certain allegations so fundamentally wrong that to address them is to give them legitimacy they don't deserve.

• Welcome genuine criticism of our policy but will not address ad hominem attacks.

• My mother-in-law always says be a karmayogi. My work shows my love for my country.