Infosys co-founder NR Narayan Murthy has voiced his support for Reserve Bank of India (RBI) Governor Raghuram Rajan and said that Rajan should be offered two more terms based on his track record.
“India should be very fortunate to have him (Rajan) serve this country for not just one, I would say two more terms,” Narayana Murthy, who founded Infosys in 1981 with Nandan Nilekani, S Gopalakrishan, SD Shibulal, KDinesh, NS Raghavan and Ashok Arora, said in an interview.
He said the central bank chief has been instrumental in steering the country’s monetary policy, despite facing criticism from some elements in the government over last few months.
Of late, online petitions seeking support of a second term for the former IMF chief economist had garnered close to 60,000 signatures. The petition urged Prime Minister Narendra Modi to allow a second term to Rajan at the RBI.
However, Rajan’s decision to keep a check on consumer price inflation, which has been in low single-digits for a year now, has won him several accolades.
Meanwhile, BJP MP Subramanian Swamy has launched a fresh attack on Rajan.
In a letter to PM Modi, Swamy has accused Rajan and other officials of the RBI of money laundering and has sought the formation of a Special Investigation Team (SIT) to investigate the charges.
He further claimed that RBI granted licenses to small financial banks allegedly for money laundering purposes. He added that those who who were granted licenses are controlled by foreign entities.
Swamy had earlier urged PM Modi to sack Rajan because he was ‘deliberately’ trying to “wreck the Indian economy”, and was also “mentally not fully Indian”.
Last month, Swamy had leveled six allegations against Rajan: