Newly Appointed Rajya Sabha member and Bharatiya Janata Party (BJP) leader Suramanian Swamy, now has shot his gun on the RBI governor Raghuram Rajan and has said that he’s not fit to be the Governor of Reserve Bank of India (RBI) on Tuesday and has gone ahead by saying that he should be removed from the post.

“In my opinion, the RBI governor is not apt for our country. 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,” said Swamy to the reporters.

He further added, “All the industries have collapsed and as a result unemployment has increased. In my opinion, he should be removed as early as possible.”

Recently, Raghuram Rajan, delivered a lecture at Cambridge university, London titled as “Why Banks? As part of the Marshall Lectures 2015-16 series and said that the foreign banks have stopped opening branches in India as they need to set aside a lot more capital due the country’s “highest risk” credit rating and they feel it is not worth doing so.

He also added that greater demand on banks to hold capital in the post financial crisis scenario has come at a cost.

By Prajakt K.