1. Amid Swamy offensive, Raghuram Rajan meets PM Modi, FM Jaitley

Amid Swamy offensive, Raghuram Rajan meets PM Modi, FM Jaitley

Reserve Bank of India governor Raghuram Rajan met Prime Minister Narendra Modi on Wednesday.

By: | New Delhi | Published: May 27, 2016 8:00 AM
RBI governer, raghuram rajan, shiv nadar university, aadhar numbers, NPA, CRIF, CIBIL, credit information services Raghuram Rajan has recently been attacked by BJP leader Subramanian Swamy, who has accused him of wilfully wrecking the economy and alleging that he is “not fully Indian” since he has been renewing his US green card. (Photo: Reuters)

Reserve Bank of India governor Raghuram Rajan met Prime Minister Narendra Modi on Wednesday. Before meeting the PM, the governor had also met finance minister Arun Jaitley, reports fe Bureau in New Delhi.

Official sources told FE that much should not be read in Rajan’s meeting with the PM as he routinely meets him and the finance minister. “The RBI governor meets the PM and FM every two months before the monetary policy is due as a courtesy meeting,” officials aware of the meeting said.

The monetary policy is due on June 7.

There’s widespread speculation in official and industry circles whether Rajan, whose term as the RBI governor ends in September, will be given an extension or not.

When asked, Jaitley on Wednesday had declined to comment. Rajan has recently been attacked by BJP leader Subramanian Swamy, who has accused him of wilfully wrecking the economy and alleging that he is “not fully Indian” since he has been renewing his US green card. Swamy has also written to the PM urging that he be sacked.

However, the BJP has officially distanced itself from Swamy’s comments.

In fact, Jaitley on Thursday told NDTV in an interview that he does not approve of “personal” attacks. “I don’t approve of personal comments against anyone, let alone the RBI governor,” he said when asked about the continuing attack on Rajan in the past few months and whether there was an effort on part of the government to ring-fence the governor.

  1. Venkataraman Balayogi
    May 29, 2016 at 11:19 am
    How about RGC- RBI Governing Council? Government must restructure RBI with a new outfit called RGC- RBI Governing Council with 5 members.One RBI Governor,One member from NITI AYOG, One member from or appointed by Finance Ministry, One member from or appointed by SEBI, One member from or appointed by Ministry of Corporate affairsThis will ensure better synergy with economic development agenda and social welfare measures proposed by Government through RGC’s professional inputs with compliance to the laws of the land and in tune with the consution of India. All major financial, economic decisions to be approved by majority vote of RGC and ensure avoiding individual whims, fancies and favors spoiling economic developmental activities or jeopardizing national interest either real or perceived to be so.
    Reply
    1. Balchandhar C As B
      May 27, 2016 at 8:37 am
      Come what may from any quarters RBI guv Mr.Rajan must get another term and Dr.SS shouldn't interfere in all govt's matters.
      Reply

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