usha manohar wrote:

@ chinmoy, Raghuram Rajan has been rubbished by one person Subramanya Swamy only but the PMO has gone ahead with the decision of having him for another term, also I remember Modi himself praising Rajan's work, which goes to show that they did not give any importance to Swamy's words ...with all that if Rajan wanted to leave he probably had other plans , so why make much of it ? There are other talented and capable people in our country to manage the finances as well as he did if not better !

Subramanyam Swamy is a talented and intelligent person, why he is doing all these cheap things. He also advocated to release Asha Ram on bail.

The decision of Rajan is the decision of a honourable person. He was taking standard economic theory based decisions. To contain inflation interest rates have to be increased to mop up excess money supply and when it came down the rates had to be brought down. BJP feels that by making money cheaper by low interest rates investment will go up. This is what industrialists want, because they can reap more profits with less effort. Also Rajan daringly brought out the hopeless condition of banks by telling them to bring NPA's on account books and they all went into losses. It is again proved that no self respecting individual with vision and daring can work in Indian system. Vested interests will sooner or later eject him out. If Modi wanted him could others have dared to gang up against him. Why is he being isolated from wrongs of the govt. by some forum bhaktas.

vijay wrote:

The decision of Rajan is the decision of a honourable person. He was taking standard economic theory based decisions. To contain inflation interest rates have to be increased to mop up excess money supply and when it came down the rates had to be brought down. BJP feels that by making money cheaper by low interest rates investment will go up. This is what industrialists want, because they can reap more profits with less effort. Also Rajan daringly brought out the hopeless condition of banks by telling them to bring NPA's on account books and they all went into losses. It is again proved that no self respecting individual with vision and daring can work in Indian system. Vested interests will sooner or later eject him out. If Modi wanted him could others have dared to gang up against him. Why is he being isolated from wrongs of the govt. by some forum bhaktas.

I am agree with you for you views for RRR. No doubt he is great economist. In whole term his focus is on making strong to Indian economy. He is not a yes man.

@Usha The point you forgot which you added later strenghtens my apprehension about the kind of smear campaign that this honorable man has confronted to finally opt for the the only choice that a person of his stature left with.You make me believe that he has been doing Chidambaram's bidding throwing all his professional expertise and ethics -hah!! I respect your views but let us agree to disagree this time. 

@Sunil

Let us remain faithful to facts and figures. A closer look at balance sheets of banks would convince even a school student of the massive fraud which the management of these have been perpetrating on the gullible people which has been resisted and exposed by Rajan. You talk of the plight of fixed income earners who are outside the protective care for organized sectors which constitute barely 12% of the populace and it is horror days for them not 'acche din' promised by Modi!! Arun Jaitley with declared assets over 50 crores could be inhumnly insensitive to their plight but how a person who takes great pride in earlier avatar as'chaiwalla' could be so! I request you to minutely follow Rajan's decisions on monetary policies taken at different quarters during his tenure to understand the kind of pulls and pressures to resist rate cuts.Had he obliged Swamy and his ilk - mind you he is just not one representing a horde - your income would have taken a nose-dive!!""

chinmoymukherjee wrote:

@Usha The point you forgot which you added later strenghtens my apprehension about the kind of smear campaign that this honorable man has confronted to finally opt for the the only choice that a person of his stature left with.You make me believe that he has been doing Chidambaram's bidding throwing all his professional expertise and ethics -hah!! I respect your views but let us agree to disagree this time. 

I don't think it is a smear campaign on a person of his stature , but it could be a reality since Chidambaram brought him in and he owes it to him ! If at all there was any interference I would blame only Chidambaram for taking advantage rather than blame Rajan who has done a stupendous job. Believe me I am all for Rajan to have continued a second term but for a apolitical person it would be a difficult position, being pulled in two directions, probably why he decided to leave..

RBI Goverenor, Raghuram Rajan has said, he was an academic and he made it clear that his ultimate home is in the realm of Ideas. He would be resigning after his term on Sept,2016.

@Usha Rajan is not as talented as Swami when it comes to exploiting misinformation and disinformation but what pains me that you lend credence to this conspiracy theory that Rajan an economist of global standing would be so low on self-esteem to be working in tandem with Chidambaram to wreck the Indian economy!!! Modi and his men have done nothing to protect his honor when Swami portrayed Rajan as a treacherous, unpatriotic saboteur!! You argue that Rajan leaves on his own then how come he talks about

his ' unfinished job'? 

No doubt India would have been better off with Rajan at the helm of affairs but I am sure they will find someone equally competent to handle the job ... If Swamy had not been so vociferous in his verbal attacks, Rajan's exit when it happened probably would not have caused such a ripple as this because governors have come and gone so far without much public notice...

Meanwhile, on the fear of Rajan's ardent supporters that India will not survive the Rajan's exit, let me say that those are overstated of course, for two reasons. The first is that Rajan himself has set up a process that helps to make the Indian central bank less dependent on a single brilliant individual. More importantly, the government may well have found someone who is equally bright to replace Rajan, and no man can ever be called indispensable.

But losing Rajan, while hardly a catastrophe for the Indian economy, does not show the government’s talent management abilities in good light. Whether one agreed with his economic policies or not, there is no doubt that Rajan is a highly talented economist at the peak of his powers – and the government should at least have made an effort to keep him.

http://www.dailyo.in/business/raghuram-rajan-rbi-repo-rates-psu-banks-subramanian-swamy-arun-jaitley-indian-economy-narendra-modi/story/1/11266.html

And now Swami attacks Arvind Subramaniam. The divine leader will keep quiet. The joke going around is that Nihalani and Rajan should have exchanged places, the former would cut interest rates and the latter would not cut any scene.