Tuesday, March 31, 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

    Fund-Crunched Punjab Government On Selling, Mortgaging Spree

    Fund-Crunched Punjab Government On Selling, Mortgaging Spree
    Sources in the cash-strapped Punjab government say that several properties and land are either being sold or mortgaged to banks by the Shiromani Akali Dal-BJP alliance government led by Chief Minister Parkash Singh Badal. 

    Fund-Crunched Punjab Government On Selling, Mortgaging Spree

    Freezing Weather Grips North India

    Freezing Weather Grips North India
    In the plains of Punjab, Sikh holy city Amritsar recorded a minimum temperature of 4.4 degrees, making it the coldest place in the state. Industrial city Ludhiana recorded a low of 8.2 degrees.

    Freezing Weather Grips North India

    Justin Trudeau Greeting Refugees At Airport Gets Ton Of International News Coverage

    Justin Trudeau Greeting Refugees At Airport Gets Ton Of International News Coverage
    The story of Justin Trudeau greeting refugees at the airport was covered in numerous countries and was atop the New York Times website, along with a video.

    Justin Trudeau Greeting Refugees At Airport Gets Ton Of International News Coverage

    New Appointments In Congress' Punjab Unit

    Charanjit Singh Chani, Bharat Bhushan Ashu and Neeraj Singh Cheema were on Friday appointed as chief, deputy chief and chief whip of the Congress Legislative Party (CLP) of Punjab.

    New Appointments In Congress' Punjab Unit

    New Education Policy To Be Cooperative Federalist: Smriti Irani

    Union Human Resource Development Minister Smriti Irani on Friday said the new education policy which is under consideration will be cooperative federalist in spirit.

    New Education Policy To Be Cooperative Federalist: Smriti Irani

    Hillary Clinton On 'Late Night' Says Bill Might Be Useful In White House As A Host And Adviser

    Hillary Clinton On 'Late Night' Says Bill Might Be Useful In White House As A Host And Adviser
    NEW YORK — Hillary Clinton says her husband wouldn't be much use picking out flower arrangements for the White House, but if she's elected president, he would come in handy as a host and adviser.

    Hillary Clinton On 'Late Night' Says Bill Might Be Useful In White House As A Host And Adviser