Raghuram Rajan: Authentic and Servant Leadership
Raghuram Rajan served as the 23rd Governor of the Reserve Bank of India (RBI) for three years from 2013 to 2016. Rajan had announced his willingness to join academics after end of his first term as Governor in RBI in the month of September 2016. He was chief economist at the International Monetary Fund from 2003 to 2007, the youngest to occupy the position. He was a professor of finance at the University Of Chicago Booth School Of Business from 1991 to 2013, when he went on public service leave. RBI’s governor Raghuram Rajan was well-known for his talent and knowledge on the dynamic challenges faced by the Indian and global economy. Raghuram Rajan has a global profile as the former chief economist of the International Monetary Fund (IMF). He was also endorsed by some experts as having forecasted the 2008 global financial crisis. In India, he has been accredited as the RBI Chief whose policies reduced inflation and improved the banking system...................
Raghuram Rajan: Leadership Style
Leadership has become difficult in today’s complex, turbulent and challenging environment. In such a turbulent and challenging times, it has more important to have genuine leadership having renewed focus to restore confidence, hope and optimism; to recover from catastrophic events and become resilient to uncertain events. Transformational or Charismatic leadership may have a discrepancy vision that can result in failure of organizations..........
Raghuram Rajan: Authentic Leadership
“Authentic leader knows who they are, know what they believe in and value, and act on those values and beliefs openly and candidly”. Looking at the career and his contribution in the world of finance and economics and India per se at this stage there is no doubt about the caliber and commitment of Raghuram Rajan as one of the best RBI governor to India. Raghuram Rajan knew that what he was doing..............
Raghuram Rajan: Servant Leadership
“Servant leadership goes beyond their own self-interest and focus on opportunities to help followers grow and develop. They don’t use power to achieve ends; they emphasize persuasion”.
Raghuram Rajan was able to pursue his conviction in front of strong leadership of central government of India. He took all the decisions taking long-term vision of sustainable growth of Indian economy.......
The Way Ahead
Trust is an important dimension for authentic leadership. Trust can be developed by ability, benevolence and integrity. Raghuram Rajan’s academic profile developed the faith in everyone for his ability to take decisions and his decisions improved the economy. Benevolence was reflected as he almost refuted the demand to cut down the interest rate out of his compassion or benevolence in the interest of the lager masses.............
Assignment Questions
I. Critically evaluate the leadership style of Raghuram Rajan.
II. What are the dimensions of authentic and servant leadership? How does Raghuram Rajan’s style of leadership style link with the concepts of authentic and servant leadership?
III. .............
Exhibits
Exhibit I: Letter from Raghuram Rajan to His Employees After Resigning
Exhibit II: RBI Governors