NEW DELHI, May 12:Bharatiya Janata Party RS MP Subramanian Swamy on Thursday said RBI governor Raghuram Rajan should be removed from his post as he is not fit for the nation.
As per reports Swami's comments came after it was reported that the RBI governor on Wednesday had said foreign banks have stopped opening branches in India as they need to set aside a lot more capital due to the country's 'higher risk' credit rating. Delivering a lecture at Cambridge University, London, the RBI governor also said foreign banks think it is 'not worth' opening banks.
As per reports Swamy said "In my opinion, the RBI governor is not fit for the Nation y. His move to increase the interest rates, so as to cut down inflation and stabilize the economy, has backfired and has badly affected the nation.'