What's said to have finally prompted RBI governor Raghuram Rajan to put in his papers was an insensitive government decision to advise him to appear before a search-cum-selection committee (SCSC) in case he wanted his services extended for two years. The advice was as demeaning as it sounds and only governments and corporates who have no respect for knowledge and scholarship could indulge in.
It's said that even P Chidambaram was advised to follow the SCSC route when he picked up Rajan for the governorship. He shrugged off the suggestion on the ground that the chair should go to a person who could bring honor to the chair, instead of getting honor on account of the chair.