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Swamy fires another salvo at Rajan

business Updated: Jun 09, 2016 21:15 IST
PTI
Raghuram Rajan

Firing yet another salvo at RBI Governor Raghuram Rajan, BJP MP Subramanian Swamy on Thursday alleged that the former IMF chief economist had planted “a time bomb” in the Indian financial system that would explode in December.(Reuters Photo)

Firing yet another salvo at RBI Governor Raghuram Rajan, BJP MP Subramanian Swamy on Thursday alleged that the former IMF chief economist had planted “a time bomb” in the Indian financial system that would explode in December.

Swamy, who wrote to Prime Minister Narendra Modi twice last month, seeking Rajan’s ouster for keeping interest rate high, took to Twitter to criticise the Governor.

“R3 (Raghuram Rajan) planted a time bomb in our financial system in 2013. It is timed for December 2016. The redeemable USD 24 billion in f.e. to be paid out by banks,” he tweeted.

He did not specify further. The ‘f.e’ in the tweet apparently refers to foreign exchange.

There was no immediate response to the query sent to RBI spokesperson Alpana Killawala in this regard.

On May 26, Swamy levelled six allegations against Rajan, including that of sending confidential and sensitive financial information around the world, and asked Prime Minister Narendra Modi to sack him immediately.

Prior to that, Swamy claimed Rajan was “mentally not fully Indian” and alleged that he “wilfully” wrecked the economy.

On Swamy’s earlier comment, Rajan said, on Wednesday: “There are certain allegations which are fundamentally wrong and baseless and addressing them would amount to giving them legitimacy.”

He further said: “I think when you think about Indianness, when you think about love for your country, it’s a very complicated thing. For every person, there is a different way that you show respect for your country... my mother-in-law would say karmayogi is the way to go -- do your work.”

The governor clarified that he “welcomes genuine criticism of our policy, but will not address ad hominem attacks” or allegations against him as an individual, instead of the policies and the position he holds.