Chidambaram's remark comes in the light of the unrelenting attack by BJP's Subramanian Swamy against RBI governor Rajan
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Swamy said the banking policies are anti-agriculture
The statement comes in the wake of strong attack on Raghuram Rajan by BJP leader Subramanian Swamy
Terming a sharp slowdown in China as a "significant risk" for the global economy and the South Asian Association for Regional Cooperation (Saarc) region in particular, Reserve Bank of India (RBI) Governor Raghuram Rajan said on Thursday the regulator had been moderating any extreme currency volatility through its intervention.He said India has in place a four-pronged defence against external shocks - "good policies; prudent capital flow management and swap arrangements; preventing extreme forex volatility; and building reasonable forex reserves"."Good policy has been essential to our stability," Rajan said while listing out various structural reforms undertaken by the government to enhance growth. "RBI has been moderating periods of extreme volatility in the currency through exchange intervention, though only when the movement is excessive, and increasing access to foreign exchange reserves, including pooling of reserves," he said.In his inaugural speech at the SAARCFINANCE Governors'
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
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He said more negative externalities could follow as the Chinese economy adjusts to a more sustainable path
RBI Governor Raghuram Rajan also said that India has in place a four-pronged defence against external shocks
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Contrary Subramanian Swamy's beliefs, global investing community has been all praise for Raghuram Rajan and his policies
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Centre to take a call only in August, just a month before his three-year term ends
Rajan also stressed on the need for cleansing the banks and checking inflation to ensure faster growth
If we have good policy, people will come to India no matter what happens in the world: RBI governor
The senior Congress leader said that the RBI chief has performed exceedingly well in his current assignment
Finance Minister Arun Jaitley today parried a question on BJP MP Subramanian Swamy's demand for immediate sacking of RBI Governor Raghuram Rajan saying the Government and RBI are responsible institutions and decisions will be taken without being influenced by "any other factor." "I think what is important are issues not personalities. Secondly whether what happens to the RBI Governor second term or no second term, what his own views on the issue are, are these matters to be discussed in public," he said. The government, he said, is a very responsible institution and so is RBI. "We will take our decisions without being influenced by any other factor," he told ET Now news channel. He was asked about Swamy writing to Prime Minister Narendra Modi seeking immediate sacking of the former IMF Chief Economist alleging that Rajan he was "mentally not fully Indian" and has "wilfully" wrecked the economy. Jaitley said the Reserve Bank and the Finance Ministry have "very ...
He further alleged that Raghuram Rajan has 'willfully' wrecked the economy