New Delhi: Bharatiya Janata Party (BJP) leader Subramaniam Swamy on Wednesday accused the Reserve Bank of India (RBI) Governor Raghuram Rajan of money laundering. Swamy had recently written a letter to Prime Minister Narendra Modi demanding a probe against the RBI governor.
In the letter, a SIT probe has been demanded by Swamy into the role of RBI officials, including the Governor of RBI, saying the whole process of approvals for the banks is arbitrary and leaves scope for conspiracy.
Swamy alleged that the RBI, under the leadership of Rajan, granted licenses to Small Finance Banks for money laundering purposes of several politicians and bureaucrats who were friends of the then Finance Minister P Chidambaram.
Further in the letter to the Prime Minister, Swamy wrote “Looking into the credentials of successful applicants, it is apparent that most of these applicants’ foreign holdings are contrary to the criteria as set out by RBI for Small Finance Banks. Most of successful applicants are in fact controlled by foreign entities.”
Swamy added, “It is malafide since it appears to be prima facie for money laundering purposes of several of the politicians and bureaucrats who were friendly to the then Finance Minister Mr. P Chidambaram. Official friendly and compromised by Mr. Chidambaram stilt dominate the high posts in the Finance Ministry.”