June 7th while addressing media Raghuram Rajan said It would be cruel to kill the fun the media was having speculating whether he was going or not ."You'll know when there is news" he added.
June 18th RBI governor wrote a letter to RBI employees stating that after consulting government of India he will be returning to academia.
So what happened between these two dates was quite mysterious, Mr.Subramayam Swamy who made allegations on RBI governor saying that he is mentally not fully Indian and demanded his sacking.
Naturally a social media war is going on in India over the issue.
Following are the allegations made against Rajan
- His policy of raising interest rates strangulated the small and medium scale industries.
- He sent confidential financial information around the world using unsecured chicago university mail.
- RBI governor continued to hold his green card and he has been making mandatory trips to US to renew his Green card
- He publicly disparaged the Modi government
- He is a member of US dominated economical group that was set up to defend the America's supremacy in the global economy.
Meanwhile Rajan's admirers think that it is a catastrophe for Modi government to loose him.
They even fear it may lead to crony capitalism,which Rajan was fighting.
In his letter to his colleagues, 53 year old Rajan ,appointed by previous UPA government said he
"will, of course be there to serve my country when needed"
On other hand Prime minister Modi praised Rajan previously for being perfect in explaining complex economic issues to him and mentioned that there are similarities in thinking on both the sides.
