Reserve Bank of India governor says will step down in Sept

MUMBAI: The popular Reserve Bank of India governor Raghuram Rajan will step down when his term ends in September to return to academia, he said in a letter published Saturday, ending intense speculation over his future.

Credited with helping to transform India's economy in his three years at the helm, the question of whether Rajan would seek -- and be granted -- a second term as RBI head has been feverishly debated in Indian media.