Raghuram Rajan - India's hope to the financial crisis?

[sgars]

Originally Posted by sarv_shaktimaan

It is a fact that R3 (Dr. Swamy's name for Raghu Ram Rajan ) has not cut interest rates, in fact increased those. All of the industry leaders will be happy if R3 is gone, also he is Congress choice, so should be removed.

He has just 2 more months left. So the movement is on not to renew his term. It is all related- Growth in interest rate is good for industry and markets but could also push inflation and further lower the rupee (I won't mind that but monitor Swamiji won't like that). So, Modi and Jaitley so far seem to be buying into whatever R3 is doing. If they decide to get a new Gov, let's see how he does. Dr Swamy's choice is a finance Prof but many of his colleagues may actually be better choices.

[sgars]

Finally PM's response -
Asked in an interview with The Wall Street Journal whether he supported the reappointment of Mr. Rajan as governor, Mr. Modi said: “I don’t think this administrative subject can be an issue for the media. And that issue is only in September, not now.”
http://blogs.wsj.com/indiarealtime/2...aghuram-rajan/
You need a log in to access the full interview. Kallu Pai has that.

Key is that RBI is not a one man body. While allegations of Illustrious Dr Swamy (not our equally illustrious Monitor Swami) sound over the top, no one is indispensable. There could be enough learned economists to succeed him.

[sarv_shaktimaan]

R3 has been renewing his usa green card .. Does this mean he's any less dedicated?

Dr. swamy put a PIL in SC to remove The Hindu's American citizen editor Varada(Rajan).

Dr Subramanian Swamy filed a case in Delhi High Court to challenge his appointment as editor since Varadarajan is a US citizen. On June 2012, Dr Swamy also made a written complaint to Press Registrar and Asst Press Registrar of News Papers of India under Ministry of IB, Govt of India. N Ram denied Varadharajan's resignation in any way related to Dr Swamy's case but admitted that it “was hanging like a sword over our heads”.

Dr Swamy's petition was dismissed by the Delhi High Court as according to the court the issue had become infructuous “because during the pendency of the writ petition the respondent no. 3 [Mr. Varadarajan] resigned from the post of Editor of The Hindu …’’.

Varadarajan has said in an interview that Swamy had demanded more coverage in The Hindu of his statements through an intermediary. Barbs and warnings were then given by Swamy to Varadarajan, and when Varadarajan kept refusing to oblige, Swamy filed his case in court.

[sgars]

Originally Posted by sarv_shaktimaan

Dr. swamy put a PIL in SC to remove The Hindu's American citizen editor Varada(Rajan).

Remember that. Wondering. How a pro commie newspaper chose an Amru over every one elsse.

[echarcha]

Why is Swamy after R.R Rajan?

[sarv_shaktimaan]

Originally Posted by echarcha

Why is Swamy after R.R Rajan?

Apparently because he was appointed by Chidambaram, is friends with his son Karti, is shielding them in Aircel-Maxis scam, is not lowering interest rates despite time being ripe for it, etc etc

[sarv_shaktimaan]

Accused of money laundering, global giant Wirecard granted licence by RBI, Swami could hound Rajan again

link

[sgars]

Originally Posted by sarv_shaktimaan

Accused of money laundering, global giant Wirecard granted licence by RBI, Swami could hound Rajan again

link

It would never be possible to prove definitely what due diligence was done and so on.

There are already Xoom, Money2India, etc., which already to inward remittances. SBI used to do it, but stopped. For outward remittance (Rupees to Dollars), you have western union (Sutradharji was trying to pay using this i remember). ICICI Bank also had allegations of money laundering long before R3 came in.

And any Biznessman will tell (off record and after many drinks of course) that there are umpteen ways to do money laundering and you wont need RBI involvement in that.

What Sutradharji seemed to be asking was why is Dr. Swamy (not monitor Swami) building this case when PM and FM seem to be OK with him (they could have fired him 2 years back otherwise). Probably it is to push S Vaidyanathan who was/is a prof at IIM Bangalore and may be they are old friends.

[sgars]

Originally Posted by echarcha

Why is Swamy after R.R Rajan?

I have put One theory above.
Another possibility is that this might be an indirect attack on FM himself. Some (of course on unrealiable sources like FB, Twitter, etc.) think that Arun Jaitley is shielding Sonia Gandhi. And Dr Swamy (again not our Monitor Swami) also fancies himself as the FM.

[Charchila]

Originally Posted by sgars

I have put One theory above.
Another possibility is that this might be an indirect attack on FM himself. Some (of course on unrealiable sources like FB, Twitter, etc.) think that Arun Jaitley is shielding Sonia Gandhi. And Dr Swamy (again not our Monitor Swami) also fancies himself as the FM.

It's like peeling an onion...

Why would Jaitley shield Sonia? Not saying that is not true, but what's at stake?

[sgars]

Originally Posted by Charchila

It's like peeling an onion...

Why would Jaitley shield Sonia? Not saying that is not true, but what's at stake?

Let me google, check and inquire. It might just be a shot in the dark. One of my FB friends called him 'Jai Italy'. Let me dig what reasons he had given ( if any).

[sgars]

Originally Posted by Charchila

Why would Jaitley shield Sonia? Not saying that is not true, but what's at stake?

Originally Posted by sgars

Let me google, check and inquire. It might just be a shot in the dark. One of my FB friends called him 'Jai Italy'. Let me dig what reasons he had given ( if any).

"Motive" - Well thats where it seems to fail. I vaguely remember someone (Mostly an AAP supporter) claiming FMs business interests in Delhi plus his stake in a Cricket Association (Delhi or Punjab), but could not find anything substantial.

My FB friend seems to have taken a 2016 resolution of not to post in FB and i dont want to break it. He does not mention any motive or reason, but found this in his 'Jai Italy" archive.

He was also praising R3.
Now, googling led to some real entertainment.
THere is this blog which claims to have a list of Sonia's agents with Arun Jaitley at # 3. You also see Sushma Swaraj at #12. Others are not really high profile BJP names and include known suspects like Kejriwal.

So, back to Dr. Swamy's* motive. Other than his official position of national interest, his motive seems to either be an FM himself (lot of his twitter fans wanted him to be the FM in 2014) o at least have an FM who listens to him and if not an FM at least an RBI governor who listens to him.

*By now, probably every one knows that it is illustrious Dr. Swamy and not out illustrious monitor Swami.

[sgars]

Looks like Dr Swamy has taken a break from R3 bashing and is now on an official visit to China.

[sgars]

Originally Posted by sgars

Looks like Dr Swamy has taken a break from R3 bashing and is now on an official visit to China.

And Cong supporters are doing a better job in making the case for his sacking by Praising him.

Most of Dr. Swamy's supporters are on 'There is no smoke without fire' mode. I.e. ," there must be something wrong with Rajan for Dr. swamy to oppose him."

And even though he is a PH.D. In economics from Harvard, I was skeptical about Dr Swamy's case against Rajan.

But this cover story has raised fresh doubts. Me thinks, "Since outlook is supporting him, something must be wrong with him"

[Charchila]

Raghuram Rajan indicates he does not want 2nd term as RBI Governor: Report

Raghuram Rajan, Governor, Reserve Bank of India has hinted that he does not want to remain in the position of RBI governor after his tenure ends in September this year, according to IANS report.

According to leading Bengali daily Anandabazar Patrika, Rajan had told the central government that he would return to the United States once his term ends.

http://www.dnaindia.com/money/report...report-2218813