My parents couldn’t afford a blazer for me: RBI Governor Raghuram Rajan

New Delhi –  Recalling his days as a student whose parents could not afford a blazer for him, and the way he used to enjoy playing the banjo, Reserve Bank of India (RBI) Governor Raghuram Rajan on Thursday asked children at his alma mater to make the most of the opportunities offered by economic liberalisation.

Touched by a rousing reception given by students, their parents and teachers at DPS R K Puram, he said it took quite an effort for his parents to get him admitted to the school in 1974, but he passed out as a better person.

There was a time, he said, when he did not have a blazer and used to go to school wearing a sweater.

“I have to say I did not own one (blazer) in the school then, I made through high school with a sweater partly because that time my parents could not afford a blazer,” said Mr Rajan, observing how things have changed for better in the past few decades.

He said that when he grew up, there were fewer opportunities as everybody wanted to join engineering schools or medical colleges.

“Today you have so many, so many opportunities. You have lots of opportunities in the media… You could become a chef, you could become a professor, a central banker and so many opportunities you have today,” he said.

“So I am not saying things would be easier for you, a lot more choice but it will also be challenging. The reason is that today there is far more competition from globalization and technology than there used to be in our time.”

Mr Rajan also recalled the days when he was part of the orchestra in school.

“I used to play banjo… I wasn’t good at music and I used to be able to do the slow stuff. But when it got fast, I would play randomly and for many years, I got away,” he said.