Worst Decision Of RBI, Demonetisation, PM Modi & Indian Economy - Raghuram Rajan | FO151 Raj Shamani

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Published 2023-12-23
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In today’s episode of Figuring Out, we have Dr. Raghuram Rajan in conversation with Raj Shamani. He is an Indian Economist and has served India as 23rd Governor of RBI. Currently, he is serving as Vice - Chairman at the Bank for International Settlements. This episode is level apart from all the other podcasts of Figuring Out, because we had one of the top Indian Personality who has in-depth knowledge of India and gave us answers to most burning questions of Indians.

In this episode, we talked about what is the role of RBI Governor, what’s the actual reason behind inflation, how to keep it under control and why 2000 rupee notes were banned. He also shared his views on PM Modi and Dr. Manmohan Singh. We also talked about his new book ‘Breaking the Mould’ and discussed my favourite chapter from that book. We then discussed the India Canada controversy and his views on it. I asked him which are the three countries according to him that could be at the top in the coming years and the countries he named were something I never expected but as he explained, everything made sense.

Towards the end I asked him what did America and China do right and become so successful and what is India doing wrong to not reach where it should have reached by now. We also talked about how much an RBI Governor earns on an average and this answer will shock you for sure! We ended with discussing 3 financial tips that every young India should know and follow. This episode is a gold-mine of knowledge for every Indian. If you love this episode, then don’t forget to subscribe to our channel, we come up with new episodes every Wednesday and Saturday.


Follow Dr. Raghuram Rajan Here:

LinkedIn - www.linkedin.com/in/raghuram-rajan

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Timestamps:

00:00 - Introduction
2:43 - Role of the RBI Governor
4:21 - Process to understand printing of currency
6:24 - How do economies grow?
9:43 - Worst decision of RBI
11:07 - Why were ₹2000 notes stopped?
12:59 - Black money and demonetization
15:52 - Argument behind bigger denomination notes
17:45 - PM Modi & Dr. Manmohan Singh
20:58 - India's engagement with the world
24:20 - Change in the world order
26:07 - Competitors of India
28:30 - Saudi Arabia: New Europe of the world?
30:30 - Manufacturing in India Vs. China
35:51 - Growth in India, America and China
46:03 - Who will be the next face on the Indian currency?
47:58 - Salary of the RBI Governor
50:49 - Best Finance Minister of India
54:07 - His book "Breaking the Mould"
54:58 - Financial advice for every young person
58:16 - Conclusion

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About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.

To Know More,
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About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in Indi

All Comments (21)
  • @your_dad5
    For those unaware of Rajan's credibility, and want a quick look of his skills, search up the gdp growth rate of India as estimated by him vs the actual growth rate, every single quarter, since 2017😂😂
  • Raghuram rajan is like a dil jala ashiq just because he was not made RBI governor by the current govt
  • @darshitshah3428
    If there was no demonetization there would be no digital india.that was the start of cashless system
  • @mr.plainview4505
    In whole currency & demonization discussion they forgot to mention about usefulness of upi (he mentioned struggle of carrying cash because of 500 rupees notes). Sir now day's most of use not even using wallets just phone with UPI is enough to travel around India.
  • @Mugiwara_Sanjii
    Ragahuram Rajan is a very knowledgeable person no doubt. But his Biasness knows no limits. Most of his Economic predictions in the last few years were just ended up wrong because his judgements are clouded by his biasness I guess he is still salty for not being reappointed as the RBI Governor by the current Govt back when his tenure ended
  • @ravinunna1168
    I remember reading a news article 3~4 years ago this guy saying PLC scheme will do nothing to India and Rajan was on of those people who said it is not correct to implement PLI scheme. Now after seeing the investments coming to India from various electronics manufacturers to gain from the PLI, I can certainly say that this guy is against India and current ruling political party and blindly oposes any move that this current goverment takes.
  • So far, I liked it most. I’ve been a great follower of him & can listen to his lectures for hours. Much love to the show to bring such minds & let us learn from.❤❤❤❤❤❤
  • @muskankansal1281
    Thanku sir for this credible session I urge you to bring more such sessions on economics.
  • Biggest failure of rbi is that they made rajghu ram rajan governor 🤣🤣🤣
  • @8bhushan8
    Thank god Raghuram Rajan was not incharge of RBI in past few years, every single major predication by him since covid has been wrong, our country would have been doomed if we had followed his suggestions
  • @rishiraaj.580
    Like IIT, NIT India Should Focus On Having Quality Skilling Institutions. 👍
  • During my college days, I had the privilege of crossing paths with him. I distinctly remember his charismatic persona, clad in a sleek leather jacket. Seeing him in his current state fills me with a sense of inspiration. His remarkable demeanor left a lasting impression on me back then, and his continued impact today truly makes for an engaging conversation.🙇‍♀️
  • @arpitmehta779
    1. Akash Banarjee 2. India Today 3. Lallantop 4. Business Today 5. Mojo Story 6. The Wire 7. The News Minute 8. CNBC 9. NDTV Profit and now 10 th RAJ SHAMANI These are the platforms where Dr. Rajan Has given justification that how India shown GDP growth more than 5% by mistake (* Nnaaah no RaHU| gandh! and @antiGrowth urban Naksals HARMED)
  • @user-mv6ie6ru8p
    Raghuram rajan is that guy who comes 1st in class but did not succeed in the real world when compared to the average student like shaktikanta das who dealt with the real world. Nothing against anyone but it is what it is.
  • @YashasSham
    This is the best podcast I have ever seen. What an amazing intellectual! Inspiring person. Thanks to Raghuram Rajan Sir. and great job Raj Shamani.
  • @ATEditz741
    RRR is very knowledgeable guy. I totally agreed with some points of him. But he is so biased to other part hate towards other.That's why I partially believes his intentions😊
  • RBI is being praised of it's decisions worldwide throughout and the governer Mr. SHAKTIKANTA Das is being highly appreciated, considered to one of the very best Governer by the world & this man is in some another world only cooking up agendas.
  • @faydekibaat1198
    Loans were given to Vijay Mallya, Choksi & Neerav Modi when Raghuram Rajan's was RBI Governors. Is he not responsible for those loans ? Why people ignore this fact ?
  • @narayansingh9407
    I completely agree with the fact the even if all the factories shifted to India , which is kind of impossible, even then it won't employ as many people in India as it did in China. Robots and AI is going to play huge part in factory production. Also the fact that today in India, everyone has very high aspirations. How many will want to work at such low wage and for how , that's a big question? In India, we can't stop protest about wage increases. Our people have tasted democracy, the ability to hold govt accountable, they are not going to remain silent with govt crushing democratic stature in the long run, we might end of creating rebellion within our own country. I also accept the fact that we need own Apple, China has Huawei as it's own Apple. It's phones outsell Apple in China. Apple has literally got US govt involved to impose tariffs of it's biggest competition from China. Recently reports said that Huawei is about to go public, which might make possible for it to overtake Apple's crown as most valued company. Now that happens or not , it's a big if. But China has done a lot in past and still doing. When are our own going to make such innovations. Today , Range Rover and Jaguar are sold worldwide, we kind of take pride in it that Tata's own it. But Tata's bought after the brand trust and value was already established in the rich western world. Tata didn't build it from scratch. We need more better schools, unis, hospitals and best of the social justice system, be it police, courts etc. Best of the media, media that is aware of it's power and ask questions, no matter who and what ? An India , where politicians don't have to take so much security around, Because they knew that did good work and they won't have any problem traveling without security. Also, by keeping our focus on manufacturing, I hope we don't miss the next bus, which is AI, which has arrived at our doorstep. Now it's up to us whether we want to board it, or again miss it, and then ride it sometime in future when world moves on to next big tech
  • @nitinnagar1079
    It would be incredible to see a podcast featuring Ajit Doval! His insights into national security and geopolitics would make for an engaging and informative discussion. Have you considered inviting him as a guest ?