Sunday, March 29, 2026
ADVT 
India

Subramanian Swamy Again Urges Modi To Remove RBI Governor

Darpan News Desk IANS, 26 May, 2016 11:26 AM
    BJP's Rajya Sabha MP Subramanian Swamy on Thursday again urged Prime Minister Narendra Modi to remove RBI Governor Raghuram Rajan for, among other things, "reckless disregard of national security interests".
     
    In a letter to the prime minister, the Bharatiya Janata Party parliamentarian raised six objections against the Reserve Bank of India Governor's conduct as a "government official".
     
    Swamy accused Rajan of raising interest rates which, according to him, led to recession; sending 'confidential and sensitive' financial information to various persons around the world; and being 'publicly disparaging of the BJP government', among other things.
     
    "Dr. Rajan's insistence on raising the interest rates led to a recession in the domestic small and medium industries and thereby caused not only a sharp decline in output but also a massive unemployment of semi-skilled labour," Swamy wrote.
     
    The other objections raised by Swamy are Rajan holding a US green card despite holding a sensitive and very high government of India post; his insistence on setting up Shariah-compliant financial institutions; and Rajan being a member of the 'US-dominated' Group of 30.
     
    "As governor of RBI, Dr. Rajan sent confidential and sensitive financial information to various persons around the world on his University of Chicago's unsecure personal email address. This is a reckless disregard of the security interests of India," the Rajya Sabha member wrote. 
     
    Meanwhile, union Finance Minister Arun Jaitley said he disapproved of personal attacks on the RBI Governor.
     
     
    "I do not approve of any personal comments on anyone, let alone the RBI governor. The RBI is an important institution; it makes its judgement. One can agree or disagree with their judgement, but that is matter of debate," Jaitley told NDTV. 
     
    After his nomination to the Rajya Sabha last month, Swamy has been repeatedly attacking Rajan. 
     
    On May 16, Swamy had written to Modi for Rajan's removal, saying "he is mentally not fully Indian". 
     
    On May 12 also, Swamy had blamed Rajan for rising inflation and increasing unemployment in the country, and called for his immediate removal.
     
    Rajan's term ends on September 3. He was appointed RBI Governor by the previous United Progressive Alliance government.

    MORE India ARTICLES

    Prime Minister Narendra Modi Mourns Vemula's Suicide, Says Corruption Is Down

    Prime Minister Narendra Modi on Friday said he was deeply saddened by the suicide of Dalit student Rohith Vemula and added that corruption had fallen since he took office in May 2014.

    Prime Minister Narendra Modi Mourns Vemula's Suicide, Says Corruption Is Down

    Terrorism, Climate Change On Agenda During Hollande's Visit

    French President François Hollande's visit to India will feature talks on issues ranging from terror, climate change, higher education, space programme and nuclear cooperation, French Ambassador to India Francois Richier said on Friday.

    Terrorism, Climate Change On Agenda During Hollande's Visit

    Writers Should Stay Away From Activism: Booker Winner Marlon James

    Writers run the risk of didacticism if they turn into activists, says Marlon James, the first Jamacian to win the Booker Prize in 2015.

    Writers Should Stay Away From Activism: Booker Winner Marlon James

    2015 Booker Prize Winner Marlon James Lashes Out At Delhi Airport Authorities On Facebook

    2015 Booker Prize Winner Marlon James Lashes Out At Delhi Airport Authorities On Facebook
    "Dude I just want to board my... flight. Oh it's delayed, you say? Nice first impression, India."

    2015 Booker Prize Winner Marlon James Lashes Out At Delhi Airport Authorities On Facebook

    Saskatchewan RCMP Make Arrest In Large-scale Crude Oil Thefts

    Saskatchewan RCMP Make Arrest In Large-scale Crude Oil Thefts
    RCMP have a man in custody who is charged in several large-scale crude oil thefts from energy sites in Saskatchewan and Alberta.

    Saskatchewan RCMP Make Arrest In Large-scale Crude Oil Thefts

    BSF Guns Down Pakistani Intruder In Punjab's Gurdaspur

    BSF Guns Down Pakistani Intruder In Punjab's Gurdaspur
    The body of the Pakistani intruder was later recovered by Border Security Force (BSF) troopers after a search of the area

    BSF Guns Down Pakistani Intruder In Punjab's Gurdaspur