RBI Governor Raghuram Rajan says not running for IMF chief's job

Reserve Bank of India (RBI) Governor Raghuram Rajan on Wednesday said that he was not interested in heading the International Monetary Fund after finishing his term as the apex bank Chief.

"It's not a job I have applied for," he told a television channel in an interview. "It's not a job I am running for," he added.

Rajan's three-year term is due to end in September 2016.

Emphasising the need of insurance in agriculture, Rajan said India needs to set long-term goals to insulate the sector from the vagaries of nature.

The country's agricultural output has taken a hit after two successive years of poor summer rains, stoking prices of some food items.

Rajan also urged wary Indian corporates to start making fresh investments following the more-than-expected interest rate cut announced by RBI on Tuesday.

(Reuters)