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  • Category: Central Government

    RBI Governor leaving his post, who is at fault here ?

    We all must be aware of the fact that Raghuram G Rajan is ending his tenure in September as the Governor of RBI. Now there was some heat up between Rajan and Subramanyam Swamy( RSS think tank ), but it is not clear that Rajan is leaving his post because of swamy's bad mouth or for some other reason.

    Whatever the reason maybe, I think our country is going to be at a loss here. If you switch off the News channels for a while and look around, you would notice there is a change since the impeccable PM started office and I am not talking about a good change. I don't want to drag another topic in this topic, so lets leave it here.

    But lets not forget, it was PM Modi, who nominated Swamy to Rajya sabha, he who rose him to power and kept silent all the time when swamy was bashing Rajan and now when he spoke so late he couldn't gather strength to name swamy.
    Mr Modi nominated swamy despite knowing about the gutter politics he's been doing for so long or maybe this is how he planned to get rid of Rajan and still claim innocence.

    If anybody did not like my harsh words pardon me, but what can one say for a Prime minister whose own party members don't obey him.

    My question is " If his own party members are not in his control, how can he manage the whole nation ".

    I might have gone a bit emotional up there, but hey its a big deal.

    Kindly share your thoughts. Remember this is a discussion. It would be great if you can keep the discussion away from other political parties and on modi's great work only.
  • #569279
    There seems to be difference of opinion between Subramanyam Swamy and RBI Governor Rajan as this fact even raised by the special interview of Arnab with PM Modi where in he expressed the displeasure of Swamy taking too much liberty to interfere in every matter in the guise of a lawyer and let him be fixed. What I personally feel that politicians should not interfere with the functioning of high officials like Rajan who has the good reputation among the bankers and also in the good books of the government.. Just because some one has remarked against him should not be generalized and talk ill about Rajan. Even Congress wants second term for him.
    K Mohan
    I consider myself as the learner everyday

  • #569297
    Raghuram Rajan is retiring after his term comes to an end. Industry and many experts except few hailed the functioning of RBI under Raghuram Rajan. Probably he was hurt because of the comments of Subrahmanya Swamy and the silence of the Government. From what happened it seems that the Government wanted to get rid of Raghuram Rajan. It is an open secret that the Finance Minister Arun Jaitley and Raghuram Rajan are not in agreement about certain policies of the RBI.
    Coming to the issue of Subrahmanya Swamy, he was nominated to the Rajya Sabha mainly to attack the Gandhi family from within the Parliament. He served the purpose very well. In the case of Raghuram Rajan also it seems from the happenings , Subrahmanya Swamy had the approval of the think tank of BJP to attack the RBI Governor. The silence of the Government and especially the Prime Minister, supports this view. After Rajan, Swamy started attacking Arvind Subramanian, the Chief Economic Adviser of the Government and who is supposed to be close to the Finance Minister. This irked the Finance Minister and the Government also. There is an immediate reaction and Swamy was asked to keep quiet . The BJP is happy as long as Swamy served their purpose and now they are unhappy as he is attacking someone whom they want to retain. For the time being Swamy is keeping quite but he is like a loose cannon and no body knows whom he will be targeting next. It can be anyone even from his party.

    With regards

    " Be Good and Do Good "

  • #569299
    We all know who is this Subramaniaswamy and his dirty politics. No doubt he is intelligent and brilliant. This gentleman swamy wants to be in the limelight all the time. Modi made a mistake of making him Rajyasabha MP. In Tamil there is a good saying "Valartha Kidaa Maarbil Paayhirathu'. (The goat we nurtured bounds on our chest) Modi should have left him with JP, not let him into BJP.
    No life without Sun ¤

  • #569309
    My question still remains unanswered. Everyone in the country was abusing and attacking Former prime minister for his "Silence" and " Not being able to control his party member". This was one of the main things he was seen unfit for ruling by the whole country or well thsi is how media made it look like.

    Now the same thing is being done by Modi, he is silent, pakistan is attacking - he does nothing, China comes in - he does nothing, Our Export has gone super low - he says nothing, does nothing.

    Isn't this the same as previous one, now nobody talks about it. Why are all singing praises and ignoring all these facts while in the case of former PM nobody talked about his financial policies but only his shy nature of talking.

    Is PM modi after taking so many Wrong decision and not being able to control his party members, do you still see him in limelight and as a " GOOD DECISION MAKER " ?

  • #569312
    Now the Prime Minister Narendra Modi himself had to intervene and he mildly scolded Subramanian Swamy during his Times Now interview. Let us hope that now there will be some sort of sobriety and semblance in the behavior of Subramanian Swamy.
    I think Subramanian Swamy's act of targeting and retorts about Raghuram Rajan and Arvind Subramanian are personal in nature and have arisen due to academic achievements of the RBI Governor and the Chief Economic Adviser.
    Due to his bad temper only, Subramanian Swamy was fired from the professorship of IIT, Delhi though the other two could maintain their unblemished records of academic as well as professional achievements.

    Let us encourage each other in sharing knowledge.

  • #569331
    Why it is a big issue about leaving of Raghuram Rajan ( RBI Governor). His term is completing on September, so before 2-3 month the new Governor search process start. He is not resigning before his term end due to the statement of Sbramaniyam swamy. Due to the statement of Dr. Subramaniyam Swamy Media highlighted the issue and many people who are not aware about this news also started showing sympathy to Raghuram Rajan.
    Although he is a good Governor, lets give chance to other to bring some more development.
    Who ever is supporting his next year, can they agree with extending Government jobs from the retirement of age 60-65.
    If no because they want young employment then why it is a big issue for Raghuram Rajan.

  • #569333
    Dear Gujrant,
    Am afraid of my response getting deleted by the ISC Admin if I write something about Modi and his government. One of my response to one of the earlier thread on Modi's governance and achievement (the fact I said) got deleted.

    Your thread is to find fault between Subramanian and Raghuram, not to discuss about Modi's government which is against ISC policy.

    Hence, your question will still remain unanswered. Is ISC watching?

    No life without Sun ¤

  • #569337
    Raghuram Rajan will relinquish his charges as Governor, RBI after completion of his tenure in September, 2016. He has not sought any extension. There is difference of policy perspective between Mr. Rajan as Governor, RBI and Mr. Jaitley as Finance Minister. The hues and cries created by the media is uncalled for and the journalists do not indicate the basic details as mentioned above.
    Despite the policy difference between Mr. Rajan and Mr. Jaitley, their personal relationship has been cordial. The uncalled for attack of Mr. Subramaniam Swamy on Mr. Rajan and Mr. Arvind Subramaniam has been criticized by the Prime Minister in his recent interview given to Mr. Arnab Goswami of TimesNow.

    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #569356
    Mr Sun, your response at #569333 is not at all in good taste. How could you (even if for fun) conclude that discussing Modi and his government is against ISC policy? Intention is understood, but can we be fair? I can see another Subramaniam Swamy in you, Mr Sun!
    Knowledge is knowing tomato is a fruit; Wisdom is not putting it in fruit salad - Miles Kington.

  • #569394
    @ Partha Kansabanik , If you think Our Esteemed Prime minister Narendra Modi is really criticising Dr. Subramaniyam swamy, does he is having dare to forcefully remove him from the Rajya sabha MP.
    This is just political game. If he really satisfy with Raghuram Rajan, why did not he extend his term for another year.?

  • #569410
    Members, and Editor Saji,
    Just have a look at this THREAD wherein the responses of Sun, Bhushan and Swagatika Pattanaik got deleted. The responses from members who had dilly-dallied with their answers with some positive aspect of Modi's governance survived in that thread.

    Can the new Shining star Swagatika Pattanaik and Bhushan also go against the ISC forum policies? What we said were the facts about the Modi government.

    There is no place on this good earth for people who speak or write the truth.

    I don't mind if I am branded as Subramanya Swamy of ISC. He is great in India. I must feel proud of being a duplicate of him. Thank you Saji SIR.

    Finally, Does ISC permit such name calling of a member, especially by an Editor?

    No life without Sun ¤

  • #569420
    #569394 - Ms. Pattnaik: Please read my previous response carefully (#569337). I clearly stated that there has been difference of policy perception between Mr. Rajan and Mr. Jaitley, but their personal relation has been cordial. As far as I know, very few Governors of RBI during last twenty years or so have been given extension. Thirdly, many leaders of BJP did not support the extreme view of Mr. Swamy about Mr. Rajan, but that doesn't mean that he (Mr. Swamy) would be expelled from the party. (In this connection, kindly recall an incidence which took place three years ago; The Cabinet under the then PM passed an Ordinance, and the 'Shahzada' tore the Ordinance is front of public. Even after this insult to the then PM, the party leaders supported the 'Shahzada', he was not expelled. Now compare that event with the present, when after being criticised by the PM, Mr. Swamy has stopped opposing FinMin officials in public.)

    Kindly examine each issue logically. Although I generally like Mr. Swamy, I also don't support his criticism to Mr. Rajan. I believe that although Mr. Rajan was appointed by the UPA Govt., he has done a good job for revival/further progress of Indian economy during turbulent time all over the world.

    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #569427
    Well I think Rajan is the only reason we get to eat lentils today, if all the monetary policy command was given to Prestigious Modi government, those who live from " hand to mouth " would have been perished given that this government seeks to enforce imperialism only.
    Lets not bash Modi's policies here on this topic.

    I personally feel that those who like subhramanian Swamy should try searching for his speech on secularism.
    I remember when he came to Panjab University, he said " We (RSS) are secular, how ? when we convert everyone to Hindu, then the nation would be a hindu nation and we will be secular automatically "

    These are not the exact quotes he used but its like 70% that.

    This is your subramanian swamy. And I personally feel he is just a pawn for something big.


    The new committee that has been set up for discussing the monetary policy of our country this gives a clue of how much modi government is trying to intrude in RBI's working, as only the governor used to set up the monetary policy earlier, now they can easily buy people and outvote the new governor to set up the policies according to them.

    This here is a big SCAM, people of our country should know.

  • #569460
    Mr. Gujrant,
    If that is the case, why should our government appoint someone as Governor of Reserve Bank? Why not our Prime Minister himself hold the post as an additional charge and set up the monetary policy according to his own will and wish in consultation with his cabinet? Am I right?

    No life without Sun ¤

  • #569500
    Its because RBI is a statuary body enforced by the constitution of our country. So they have to do all this drama, but they surely want to control everything and by that I mean give everything to the corporate.

    There are new adani gas pipe lines in my city just laid down. Now I remember he is defaulter on crores of loan by state bank.

    A Government - Of the corporate, By the corporate , For the corporate.

  • #569503
    #569500: Yes, LPG subsidization scheme, Swachh Bharat scheme, various reforms in Railways, Saving Account opening scheme with minimum balance along with insurance and accident insurance, Atal Pension Yojana, etc. are for the corporate!
    “Whenever I feel the need to exercise, I lie down until it goes away.” - Paul Terry

  • #569525
    Refer my #569410.
    Dear ISC, I am extremely sorry for responding that thread in a hurry without realising the date of origin. I now realised that the thread response of mine which got deleted along with Bhushan and Swastika Pattanaik was an old thread dated 27th May. As I was responding to that thread on 27 June, there was a slip in the month.

    ISC, You are right in deleting my response and awarding negative marks. Sorry I was wrong. This won't happen again.

    No life without Sun ¤

  • #575912
    RBI chairman Mr Raghuram Rajan is retiring after completing his term. we should take positive,there are few criticism that central govt is forcing him to leave the office. this is baseless and not good for the moral of other employees/ persons with talents who can become the new RBI chief. If government goes on extending the term of
    higher official in the government offices and departments it will kill the initiative and talents. for example a secretary/CMD/DGP term is extended, what will happen to the carrier and hope persons who are working hard and sincerely for the last 30-40 years to achieve that position. This practice of extending the term even by 3 months is wrong and unethical. so the going of Mr Rajan is OK.

    'Education is a lifelong process, keep on learning new things'


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