Swamy accuses Rajan of information leak

In his second letter to Modi within a fortnight, Swamy accused the RBI Governor of raising interest rate to the detriment of small and medium industries

Bharatiya Janata Party (BJP) MP Subramanian Swamy on Thursday levelled six allegations against Reserve Bank of India (RBI) Governor Raghuram Rajan, including sending of confidential and sensitive financial information around the world, and asked the Prime Minister to immediately dismiss him.

Following up on his barbs against Rajan, Swamy has again written to Prime Minister Narendra Modi that the former International Monetary Fund chief economist should have known the “inevitable consequence of rising and high interest rate and his policy was wilful and thus anti-national in intent”.

He alleged Rajan raised interest rates to force recession on domestic industries, permitted Sharia compliance on financial organisations despite the RBI Act not permitting this, continued to hold on to his US green card and sent confidential and sensitive financial information around the world.

The BJP leader also accused Rajan of publicly disparaging the Modi government and alleged the he is a member of “a US dominated group” that has set up to defend America's dominant position in the global economy.