Five reasons why Raghuram Rajan said no to second term

Buffeted by political attacks over his second term as Reserve Bank of India (RBI) Governor, Raghuram Rajan on Saturday ended speculations saying he will return to academia after his current tenure ends on September 4, 2016.

Here are five reasons why he must have thought of not continuing his term.

1: Continuous attack from Swamy: It all started with BJP leader Subramanian Swamy after he accused Rajan of destroying economy with his hawkish stance on interest rates. Swamy even alleged him of not being 'fully Indian', this came in context oh him holding US Green card.

2: More attack from Saffron side: With Swamy already targeting him, more heat came from Finance Minister Arun Jaitley over Rajan's outspoken views on issues like intolerance and his remarks about India being 'one-eyed king in the land of blind'.

3: Amit Shah's diplomatic claim: While Finance Minister Arun Jaitley called for restraint in public criticism in the wake of Swamy's attacks, BJP President Amit Shah said the newly-nominated MP's remarks were his personal opinion.

4: Silent PM Modi: Answering questions on another term for Rajan, Prime Minister Narendra Modi had said that this "administrative subject" should not be an issue of interest to the media and it "will come up only in September".

5: His last statement says enough: "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."