The popular governor of the Reserve Bank of India, Raghuram Rajan, will step down when his term ends in September, he wrote in a note to colleagues published on the central bank's website Saturday. 

"On due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016. I will, of course, always be available to serve my country when needed," Rajan wrote.