Utilize the input text as a context reference, choose the right relationship between Raghuram Rajan and Reserve Bank of India from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

MUMBAI: Private equity fund managers and asset reconstruction companies have told Reserve Bank of India Governor Raghuram Rajan that the absence of a bankruptcy law and banks' reluctance to take bigger losses were stumbling blocks in his efforts to cleanse the banking system of bad loans.

Answer: employer