Swamy advises PM Modi to sack Rajan if bank rates are not decreased

New Delhi : Bharatiya Janata Party (BJP) leader Subramanian Swamy has said that Prime Minister Narendra Modi must instruct Reserve Bank of India (RBI) Governor Raghuram Rajan to either cut rates or be ready to be sacked.

“PM must make clear to RBI Gov: Rate cut now or Rajan cut right away,” said Swamy in a tweet.

RBI today will announce its monetary policy and most market participants and the economist are hopeful of rate cut.

Earlier last month at Jackson Hole, Rajan had mentioned that the Central Bank had cut interest rates thrice in the year and were still in an accommodative mode, this statement have fuelled their hopes of a rate cut.