Raghuram Rajan Vs Swamy – Clash of Titans,Swamy writes to Modi to remove Rajan as RBI Governor

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Mr.Subramaniaum Swamy
Mr.Subramaniaum Swamy

Raghuram Rajan Governor of RBI is under fire from Subramanian Swamy.

BJP lawmaker Subramanian Swamy has written to Prime Minister Narendra Modi recommending that he “consider terminating the appointment” of Reserve Bank Governor Raghuram Rajan “effective immediately or when his term ends” in September.

In his letter to the PM, dated yesterday, Mr Swamy has accused Dr Rajan of an “apparently deliberate attempt to wreck the Indian economy,” and contends that the RBI governor is “mentally not fully Indian.” since he continues to renew the Green Card issued to him by the US government.

As an example of Dr Rajan’s actions that he alleges have hurt the economy, Mr Swamy cites what he calls the “disastrous” concept of containing inflation by raising interest rates. He has alleged that Dr Rajan’s decisions have squeezed small and medium business and increased unemployment in the country.

In fact some point of time comments from Rajan like one eyed economy etc. made the image shadowed and down in world perspective.

 

Also, bad loans with public sector banks has doubled to Rs 3.5 lakh crore in two years, he said. Rajan was appointed RBI Governor by the previous UPA government in September 2013 for a three-year term, which can be extended. “These actions of Dr Rajan lead me to believe that he is acting more as a disrupted of the Indian economy than the person who wants the Indian economy to improve.