Demand for Rajan's sacking will send wrong signals: Sanjay Jha

He said the removal of RBI Governor by a BJP leader will send wrong signal to international investors and bankers.

Published: 28th May 2016 09:16 PM  |   Last Updated: 28th May 2016 09:22 PM   |  A+A-


Governor of the RBI Raghuram Rajan speaks at a forum on financial development at the 2016 IMF World Bank Spring Meeting in Washington. REUTERS


PANAJI: The demand of removal of RBI Governor Raghuram Rajan by a BJP leader will send wrong signal to international investors and bankers, Congress said today. "Rajan is a responsible banker and thinker.

Attack on him clearly shows that under the Narendra Modi-led government, any decision will have to have political overtones," Congress spokesperson Sanjay Jha told reporters here today.

Interference in the functioning of RBI is a mockery of democracy, he said, adding, "By doing this, you are sending wrong signals to international investors, bankers and media. Moreover, it is a shame for India."

According to the Congress leader, RBI needs Rajan more than he needs the central bank. In the recent past, BJP MP Subramanian Swami has written letters to Prime Minister Narendra Modi urging him to immediately terminate the services of Rajan.

In the first letter, Swamy alleged that Rajan was 'mentally not fully Indian' and has "wilfully" wrecked the economy.

In the second letter, the BJP leader alleged that the RBI Governor's policies have finished small industries and are anti-agriculture. Rajan's tenure is scheduled to end in early September.

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