Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision

The government will decide soon on a successor for Reserve Bank of India Governor Raghuram Rajan, after his unexpected announcement that he did not plan to seek a second term, Finance Minister Arun Jaitley said on Saturday.

Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision.

Photograph: Shailesh Andrade/Reuters