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Swamy levels 6 allegations against RBI’s Rajan, asks PM Modi to sack him

Bharatiya Janata Party (BJP) Rajya Sabha MP Subramanian Swamy on Thursday fired another salvo at Reserve Bank of India (RBI) governor Raghuram Rajan levelling six allegations against him and asked Prime Minister Narendra Modi to immediately terminate his services.

india Updated: May 26, 2016 15:53 IST
Subramanian Swamy,Raghuram Rajan,RBI
BJP’s Rajya Sabha MP Subramanian Swamy at Parliament House in New Delhi.(Sonu Mehta/Hindustan Times)

BJP MP Subramanian Swamy on Thursday targeted Raghuram Rajan again, accusing him of sending sensitive financial information abroad and asked Prime Minister Narendra Modi to immediately sack the RBI governor.

The Rajya Sabha member submitted a six-point “charge sheet” against Rajan to Modi on the day media reports claimed BJP chief Amit Shah had said Swamy’s views were not that of the party.

Rajan, the BJP leader claimed, was sending confidential and sensitive financial information to various persons around the world using unsecured Chicago University email id and publicly disparaging the BJP government.

“This is a reckless disregard of the national security interest of India,” the BJP MP said.

Also Read | ‘Mentally not Indian’: Swamy writes to PM to sack Rajan as RBI guv

Rajan, who famously predicted the 2008 global meltdown, was a professor of finance at University of Chicago Booth School of Business from 1991 to 2013. His three-year term at the Reserve Bank of India ends in September. When asked recently if he was interested in another stint, the 53-year-old economist said that there was a lot of work to be done.

Accusing Rajan of raising interest rate to the detriment of small and medium industries, Swamy said Rajan should have known the “inevitable consequence of rising and high interest rate and his policy was wilful and thus anti-national in intent”.

The six allegations against Rajan were “prima facie true” and his services should be terminated immediately in “national interest”, Swamy said in his second letter to the PM in as many weeks.

Despite holding a sensitive post, Rajan has been making mandatory trips to the US to renew his green card. RBI governor’s post, Swamy said, “is very high in the Warrant of Precedence and requires a patriotic and unconditional commitment to our nation”.

Also Read | Rajan unfit to be RBI guv, should be sent back to Chicago: Swamy

This is the second time that Swamy has raised the issue of Rajan’s green card. Earlier he had accused India’s top banker of wrecking the economy, alleging he was “not fully Indian” since he was renewing his US green card.

Rajan, Swamy said on Thursday, was a member of US-dominated Group of 30 which is engaged in defending America’s dominant position in the global economy.

Though he was a government official, Rajan was disparaging the BJP government. “He (Rajan) has by innuendos in effect held our government responsible for climate of intolerance in the country,” Swamy said.

Rajan insisted on permitting Sharia compliant financial institutions though there was no such provision in the RBI act, he said.

(With agency inputs)

Also Read | His name is Raghuram Rajan and he says what he says

First Published: May 26, 2016 15:17 IST