Social Media Is Furious At BJP Over Raghuram Rajan's Decision To Step Down As RBI Governor

18/06/2016 9:07 PM IST | Updated 15/07/2016 8:27 AM IST
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Raghuram Rajan, governor of the Reserve Bank of India (RBI), listens during a news conference in Mumbai, India, on Tuesday, June 7, 2016. Rajan urged patience regarding his future plans after holding interest rates at a five-year low. Photographer: Prashanth Vishwanathan/Bloomberg via Getty Images

The BJP government faced a major backlash on social media on Saturday after RBI Governor Raghuram Rajan announced his decision to step down as the central bank’s chief when his term ends in September this year.

The 53-year-old former chief economist at the IMF, who shot to fame after he predicted the 2008 global financial meltdown, has off late been the target of a no-holds barred attack by BJP leader Subramanian Swamy for his hawkish stance on interest rates.

Responding to Rajan’s decision, Finance Minister Arun Jaitley in a tweet lauded the RBI governor’s efforts and assured that a replacement will be announced soon.

However, the social media was pretty upset with Rajan’s exit and people from various walks of life, including industrialists, businessmen and senior journalists, among others, joined the chorus of protests.

This is how the financial world reacted to Rajan’s exit.

Calling Rajan’s decision to step down a victory of cronies, senior journalist Shekhar Gupta said in a tweet that intellect and global respect were the RBI governor’s capital.

The public also took to social media to condemn Rajan's exit.

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