New Delhi, June 18 (IANS) Congress leader P. Chidambaram on Saturday accused the NDA government of a planned campaign of insinuations and baseless allegations against RBI Governor Raghuram Rajan and said he was disappointed but not surprised by the economist's decision to leave the bank after completion of his term.

"I am disappointed and profoundly saddened by the decision of Raghuram Rajan to leave the RBI on completion of his term on September 4, 2016, but I hasten to add that I am not surprised at all," Chidambaram said in a statement.

The former finance minister said the Narendra Modi government did not deserve the services of Rajan.

"The government had invited this development through a craftily planned campaign of insinuations, baseless allegations and puerile attacks on a distinguished academic and economist. As I had said some time ago, this government did not deserve Rajan. Nevertheless, India is the loser," Chidambaram added.

Rajan has written a letter to his colleagues in RBI that he is not keen on a second term at the helm of the country's central bank and would return to academia when his tenure ends in September.