Veerappa Moily hints at 'RSS-lobby' behind Raghuram Rajan's exit

June 19, 2016

Bengaluru, June 19: Blaming the adverse environment created by the BJP-led regime at the Centre for Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to not continue with his current post after the end of his tenure in September, former union minister Veerappa Moily on Saturday hinted at the RSS being involved in the entire matter.M-Veerappa

Moily criticised the saffron outfit for having embarrassed Rajan and said the latter was needed to steer the economy in times of global economic uncertainty.

"The reason is well known to him. But the manner in which some of these BJP leaders, including the commerce minister and one of the important BJP leaders Subramanian Swamy, and also the Nagpur RSS camp was lobbying against him, was the most unpleasant thing that happened in the country," Moily told ANI.

The senior Congress leader further said the present regime did not deserve a person of Rajan's stature to be working with them.

"Under the present regime, they do not deserve a person of his stature. He is a global person. We are endowed to him, he took all steps to keep the inflation down. They shouldn't have embarrassed him. His desire not to continue was compelled because of environment created by the BJP regime," Moily said.

"Under the present (economic) scenario, he was very much desired as he would have definitely taken the economy forward. It's a loss for country's economy," he added.

BJP leader Subramanian Swamy had last month triggered speculation by asking the Centre to deny Rajan a second term, saying his hawkish policies have ruined the Indian economy.

Swamy had in his letter to Prime Minister Narendra Modi accused Rajan of 'harming the nation's economy' and claimed that the latter was acting more as a disrupter of the Indian economy than the person, who wants the Indian economy to improve.

Moily said that Prime Minister Narendra Modi or Finance Minister Arun Jaitley should have made an attempt to curb elements in the BJP levelling false allegations against Rajan, including Swamy.

"The Prime Minister or the Finance Minister should have curbed these elements who are unnecessarily making allegations and charges against Raghuram Rajan," he said.

When asked specifically about Swamy's remarks on Rajan, the senior Congress leader said, "Swamy's allegations are baseless and he doesn't know much about the economy. NDA is out to disrupt economy of the country."

Meanwhile, Swamy welcomed Rajan's decision to leave his post, saying he was not even going to be offered a second term in the first place.

Swamy told ANI that Rajan made this decision in order to save his self respect.

"Was he getting a second term in the first place? How do we know that he was getting a second term? I have no information that he was getting a second term. So if he says he wants to go and wants to save his self respect, I have no problem. Let them pretend that he is giving up and going but as long as he goes, it's good," Swamy said on Saturday.

Earlier today, Rajan announced that he would return to the academic world at the end of his term on September 4, 2016, adding he will always be available to serve his country when needed and asserted that his 'successor' would take the nation to new heights.

Rajan is currently on leave from the Chicago Booth School of Business where he holds the post of Distinguished Service Professor of Finance.

"The approaching end of my three-year term and of my leave at the University of Chicago was, therefore, a good time to reflect on how much we had accomplished. I am confident my successor will take us to new heights with your help. I will still be working with you for the next couple of months, but let me thank all of you in the RBI family in advance for your dedicated work and unflinching support. It has been a fantastic journey together!" the statement said.

Comments

KhasaiKhaane
 - 
Monday, 20 Jun 2016

Guys, Chaiwala is a PM... now he will obviously try to appease his colleagues - Dhoodwala, Subziwala, Golgappe wala, Kinarewala,...
and not to forget - PanWala (Rajnath Singh)

MMS - \#MoNa becoming PM will be the biggest disaster for the country\"
Now we know why and we will see more..!"

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News Network
April 22,2020

Bengaluru, Apr 22: With seven more people tested positive for COVID-19, the total number of cases now stands at 425 as of date in Karnataka, informed state health department on Wednesday.

Out of the total COVID-19 cases, 17 people have died and 129 have been discharged.
These seven new cases came to light in the last 24 hours.

With 1383 more cases and 50 deaths reported in the last 24 hours, India's total number of positive COVID-19 cases stands at 19,984, said the Ministry of Health and Family Welfare on Wednesday.

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Agencies
March 1,2020

Kochi, Mar 1:Adheringto a policy of "zero tolerance" towards clergy who sexually exploit minors, Pope Francis has expelled a Kerala priestconvicted of rape from all priestly duties and rights, according to church officials.

Syro-Malabar Church priest Robin Vadakkumchery is currently serving a jail term for impregnating a 16-year-old girl in Mananthavady diocese.

"Vadakkumchery has been dispensed from the exercise of priestly duties and rights. That means he has been reduced to the state of a layman", a Church official told PTI.

He was suspended from priestly duties soon after the news about his crime was reported in early 2017.

A POCSO court in Thalassery last year had sentenced Vadakkumchery to 20 years of Rigorous Imprisonment and slapped a fine of Rs three lakh on him.

The priest, 50, was the vicar of the local church in Kottiyur in Kannur district and manager at the school where the victim was studying.

He was arrested two years ago while trying to flee to Canada.

The Vatican's action came two years after Pope Francis made it clear that all bishops should adhere to a policy of "zero tolerance" for clergy who sexually exploit children.

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News Network
May 30,2020

Dubai, May 30: Taking advantage of Vande Bharat Mission, a notorious NRI conman has fled to India through a repatriation flight after duping several businessmen in United Arab Emirates and stealing goods worth nearly six million dirhams.

Yogesh Ashok Yariava, 36, owner of the fraudulent Royal Luck Foodstuff Trading and prime suspect in the audacious scam took a flight to Hyderabad from Abu Dhabi on May 11 with around 170 repatriates.

His mandatory two-week quarantine period would have ended on May 25, but for his 40 odd victims a protracted battle for justice has just begun.

Last Wednesday many of them trooped down to the Indian Consulate office in Dubai in the hope of getting an audience with Consul General Vipul. The following day they went to Bur Dubai police station clutching dud bank cheques.

In a replay of the familiar trading scam, conmen representing Royal Luck Foodstuff approached unsuspecting traders and made bulk purchases against post-dated cheques.

They bought anything they could get their hands on: Facemasks, hand sanisters and medical gloves worth nearly half a million dirhams from Skydent Medical Equipment, Raheeq Laboratories and GSA Star; rice and nuts (Dh393,000) from Al Baraka Foods; tuna, pistachios and saffron (Dh300,725) from Yes Buy General Trading; French fries and mozzarella cheese (Dh229,000) from Mehdu General Trading; frozen Indian beef (Dh207,000) from Al Ahbab General Trading and halwa and tahina (Dh52812) from Emirates Sesame Factory. It’s a long list and it keeps getting longer as more victims come forward.

When their post-dated cheques started bouncing, the traders rushed to Royal Luck’s Opal Tower office in Business Bay. But it was too late. They had shut down and all their 18 staffers had disappeared. Visits to their warehouses also drew a blank.

“Calls made to the company’s sweet-talking purchase managers who visited us days earlier carrying fancy business cards remained unanswered,” said Chandrasekaran Ganesan of Ajman-based Skydent Medical Equipment which supplied protective face masks worth Dh175,875.

Another business owner, Anand Asar said he visited Royal Luck’s office after his cheque of Dh79,552 returned marked insufficient funds. “The security guard at the building told us their staff was last seen on May 17,” said Asar who has since lodged a police complaint.

“I am devastated. I don’t know how I will recover my losses,” said another trader.

Victims reckon the ill-gotten goods have been sold to third parties at dirt cheap prices.

“They have got millions of dirhams worth of goods against worthless pieces of paper. The scammers would rack up huge profits even if they sell our stuff for one tenth their price,” said another trader who pegged his losses at Dh200,000.

The scam comes close on the heels a Dh4 million fruit loot in which 810 tonnes of fruits shipped by Indian exporters to OPC Foodstuff Trading in Deira, Dubai were similarly stolen last month.

Legal adviser Salam Pappinisseri from Sharjah based United Advocates that represents five firms which have collectively lost over Dh550,000 said they are weighing legal action against the prime suspect Yogesh Ashok Variava in both India and the UAE.

“Yogesh, originally from Mumbai, absconded from the UAE with large amounts of money on an emergency evacuation flight. It’s strange that the fraudster got a seat in the flight which was meant to bring stranded Indian citizens who had registered with the Indian embassy and consulate requesting repatriation on urgent grounds,” said Pappinisseri.

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