How Rajan shook Raisina Hill, on a holiday

MUMBAI: It was thought that only Raghuram Rajan could make Raisina Hill, the seat of the central government, buzz on a holiday. Actually, the replacement can, too, even if s/he is still a mere matter of conjecture.

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As brothers set out to meet sisters for Rakhi, word spread that the government was set to announce who would replace Rajan as RBI governor. The buzz has been on for days, but on Thursday, it had credibility. For three reasons:

1. There is not much time left before Rajan’s tenure ends on September 3

2. There had been a lull for the last few days on Rajan rumours.

3. Big things tend to happen on holidays.

Naturally, hordes of reporters descended on North Block, the seat of the finance ministry. They were told mainly two things by different officials — both equally intriguing.

One, that the announcement would be made by the Prime Minister’s Office, so everyone should keep a beady eye on the PMO website. And two, that Rajan’s replacement — hold your breath — could be Rajan himself.

“I don’t know, I wouldn’t be sitting here if I did,” said one official. He added as an afterthought: “It could be anyone, you know, even Rajan might get another term.”

That was cue for a television journalist to hold forth in the media room there: “My top sources tell me Rajan might get a second term.” Everyone around him smiled the knowing smile: They all knew the top source, they had all spoken to him.

Showing a healthy competitive spirit, the reporter of another channel said he had known the new governor’s name all along, but the government was holding back the announcement as his channel had broken the news. More smiles, disbelieving ones this time round.

When HT managed to get into a senior official’s cabin, all he would say was “Go away, don’t waste my time with these questions.”

No, there was no smile.