FM Nirmala Sitharaman Says Raghuram Rajan Failed To Protect Banks As RBI Chief
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- เผยแพร่เมื่อ 2 ก.พ. 2024
- #Modinomics24 #BudgetWithBT #UnionBudget2024 #NirmalaSitharaman #RBIChief #RaghuramRajan
It’s the biggest counter-attack yet by Finance Minister Nirmala Sitharaman against former RBI Governor Raghuram Rajan. In an exclusive conversation with Rahul Kanwal, Executive Director, Business Today and Siddharth Zarabi, Managing Editor, Business Today TV after presenting her interim Budget for 2024, the Finance Minister said that as Governor of the Reserve Bank of India (RBI), Rajan failed to fulfil his duties as the banking regulator. “Banks were in torment as the regulator looked the other way and phone calls were going to banks”, said the Finance Minister. She added that Raghuram Rajan should’ve pointed out the rules to banks and protected them from external pressure. According to Nirmala Sitharaman, Rajan should first clarify whether he has put on the cap of an economist or a politician each time he speaks.
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He once said india wouldn't cross 5% growth, now when we are at 7% he says we should be at 9%. Wtf bro, make up your mind.
😂
That raghuram destroyed the banking system
Well said
No. Chidambaram did. All bad loans were given during Chidambaram's time.
Raghuram Rajan, came at the end, to put banks on Prompt Corrective Action, and caused a credit crunch in the economy.
@@rajx7120 all these guys did the same. Now they are commenting on the others when trying to correct it.
@@rajx7120Raghuram Rajan's term coincided with the last leg of UPA rule when big shots like PC and MMS would call the heads of top banks to extend/readjust/give new loans to people like Vijay Mallya contravening all banking laws and RBI (Rajan) would look the other way. That was the reason the NPA in many public sector banks piled up to almost economy destroying levels during 2015-16 before the newly appointed NDA government could even understand what was happening as they allowed Raghuram Rajan to continue as RBI Governor for a couple years after the UPA term. He did his best to hide the NPA epidemic and bring the first Modi government almost to complete bankruptcy. He thought by delaying the disclosure, it will be a long into the Modi term and he will have to shoulder the blame for the banking sector disaster. Any the CCP funded media tried to do that in reality.
Wrong.... He is the one who forced the clean up. He hurried the bJP because of which they didn't like him. He force the banks to declare the rot called the NPAs... it affected the Indian economy significantly because of which credit rates were high. It was Dr Seetharaman's initiative then to declare a bad bank which health to healthier assets in the bank in one shot and tightening of lending rules and procurement of lent money if the asset were to become an NPA. Both have done a good job. But they are critical of each other..
What a slap up response to RR by our FM who walks the talk😅
😏Really??? Get Educated you Andhbhakt Gobar Dimak Gandhbakth ☝️
Yeah
She is so efficient that the inflation is sky high. India's GDP is growing up to 6 % . Which was 9% or so when BJP came to power in 2014 .
Govt grands / scholarships in various Universities, including IIT, TISS. has reduced drastically since 2019. Unemployment is the highest since 1973.
Wow,! Nirmala Sitaraman is a Great finance minister 👏
@@sumanair9317 The facts brought out by you straight away earn you nobel prize 🏆।।। Kudos to your knowledge ।।।
@@user-qi8ok8zt8m😂😂😂
No one takes Raghuram Rajan seriously....7 percent growth for India where whole world is failing in times of pandemic, in times of Russia-Ukraine war...
There are people who take them seriously.
Thats a problem
@thezoldics7648 Why do we label anyone with such negative trend? I am a bJP supporter and I first see what insights I can get from him before rubbishing him.
Raghu took himself seriously and started imagining as if he is a bolly wood hero. He is more focused on publicity stunts rather than on economy. LOL
Rajan forgot to mention the favourable economic & political environment in which China achieved its growth. Compare it to the economic and geopolitical environment today. Even his favorite China is slowing and meanwhile India is still growing at 7%. It is very easy to give a one sided statement but difficult to give balanced view.
and why do the banks need protection? what are they even doing so that RBI has to provide them with "protection"?
@@arjunratnadev even a person with basic understanding of economics knows that RBI needs to protect banks in a way by controlling the interest rate, keeping demand in check so that no of NPA is low and banks can run smoothly.
@@arjunratnadev In the Process of hating bjp you want RBI to not make law to prevent them from being bankrupt and loosing people money.... What kind of policy do u support leftist ?
@@arjunratnadev the banks don't need protection and should follow their charter, it's depositors money that should be protected. What has congisoles done on that front ?
Very true. It is a very different and difficult world now.
What a answer Madam, Tight slap to Anchor n Raghunath
Rahul Kanwal is another Rajdeep in the making. He also likes himself to be insulted on face. His questions most of the are either not serious or borrowed on the basis of what someone else has said.Now RR wants drive into the bandwagon of Congress. Nowadays he is also "training" Udvasta Thackeray about "banking and economics" who ran the government as the CM from home Matoshri.
Rajan is not able to digest how India recover from covid . His pessimistic views on every subject is found to be incorrect.. his association with Rahul in Bharat jodo proved his ambition.. so whatever he’s saying it’s better just neglect .. during his time then NPA crisis of bank was well known and now he is very good in PR so youths easily get trapped with his well articulated views
Youthako apana dimag ka isthemal karke sochke kam karna chahiye yek jute makkarki nahi.
@@radhikaprabhu4738 tough to understand what u mean
What a Wonderful answer by Nirmalaji 😀👏👏👏.. Raghuram as a Politician or an Economist
I don't know man. She is answering as if he is a simpleton. He is a qualified economist whether we like it or not. Hence, instead of name calling she could have explained better what RR said is not practical because of these reasons. In sanatan dharm one has to be humble and she is very full headed and doesn't have ears to listen. 7% is not what India needs ; India needs 9%. How do we get there is what she should have focused on. She should be fired man
She's not giving any answer here, 😅😅😅 That' s what politicians do, they shift blame.
Rajan is an Economist and asked REAL QUESTION but Nirmala is a Politician!!
@@strengtheningdemocracy-awa7016 He messed up the Banking System.. Npa's were all time high, Banks had mounting losses.......
@@bvssrsguntur6338why all the economist videsh mey padheke aye deshke virodi kyo banatehai ? Mounmohan Sing h, Raguram., chidumbaram,all are nikale chor inchoronke akka koun. Inki Secretary ne pakistako 500 ka jali notes chapavaneki machine, papers provide kyo kiya suna hai kya dimag vale yekam karthe hai kya.
That same maguu ram predicted india will grow below 5%, he got zero credibility,
I must be capital patel in India
This is what we expect from you madam as it is a slap on the face of the so called man who is making mockery of our financial system.Keep it up❤
Totally agree. Salute to our Minister.
Not sure if our FM answered the question posed by the interviewer! She just commented on Raghuram Rajan and not his suggestion !
Bhaijaan! This is what she has been doing 8 out of 10 questions posed to her. Do you know why? Coz she can get away with it. She is selected and has never been elected.
She just proved that teaching is a very risk free profession. 🙃
Nirmala Seetharaman perfectly right when Raghuram Rajan holding Governor of RBI allowed the Banks to lend big ticket bad loans and allowed the Banks to suppress the disclosure of stressed assets(Bad Loans) indirectly allowed phone Banking to swindle away Banks money by the influential businessmen. Mr. Raghuram Rajan projecting himself as economist virtually acting as agent of political masters when he was holding governor in RBI.
Wonderful answer by you 👏👏👏
Not congresi Stooge. He reports to a even higher authority. The americans and CIA. Who are also the bap of congress too.
He did exactly opposite of what u re saying
@@anushasiddiqui5568 politically he supports your favorite party Congress hence he is a good economist for you... Leave aside his economics, its only the political sympathy for him because he was against Bjp and pro Congress , hence he is a good economist for you
@@anushasiddiqui5568 That is the biggest lie, congress has advertised for him. Don't listen to propaganda and articles written by Soros gang members.
Read the economic numbers and learn about NPA figures and timelines for major banks. The truth is lying in front of you.
There is also a talk that he was trying to print 1 lakh rupee notes.
To promote black money may be.
That may be a rumour but rest point to the fact, that he was working secretly for the US govt.
We were on the verge of being colonised again (east India co part 2), with both the head of country (sonia) and hand of economy (rajan) being foreign agents.
If forensic audit of decisions of Rajan carried out, it would be stablished that business of psu banks were stopped to benefit a few private banks.
This is where i blame BJP. They should have taken him to the cleaners in 2014 itself
Raguram Rajan is just a bitter failed economist who desperately wants some limelight as a politician. Stop taking him seriously.
Inhone recently yek inter view mey kaha tha ki salary to kam miltha hai, lekin ghar to bombay mey bada milavaha Ambani ke ghar ke nazdik tha, vaha maine bechadiya 450 karod mey, why all the So-called videsh se padhayi karke anevale ne apane bad idigri ka kamal dikhaya nahi sabi yekse badhkar yek chor nikale kyo?
Does he have Indian Citizenship?
When he became the governor RBI was already failing and India was downfalling economical. He literally took India where it went with Modi govt. No one's contribution should be forgotten 2:33
@@radhikaprabhu4738voh kaha ki salary bada nahin lekhin rehne ka jagah itna shandaar ki agar use bechne se govt zyadha salary de sake RBI staff ko. Galat samaja aap.
Raghuram Rajan is a joker, it was great he was kicked out of RBI
Very balanced and with great clarity.
Crisp and Powerful response. She doesn’t need 2 hours to communicate a complex problem.
Raghuram ji probably did not do enough when he was RBI governor, as he is bookish and not the one knows ground realities. This apart, no need of comparison with China or any other, but should know what's happening is vital and delve on our strength and evolve ourself is significant.
Most of his predictions have failed
Excellent answer.
जब चीन ने शानदार ग्रोथ दिखाया था तब पूरी दुनिया में शानदार ग्रोथ हो रहा था ........दुर्भाग्य से यूपीए सरकार ने उस अवसर को गवा दिया .....वर्तमान में संसार में आर्थिक मंदी चल रही तब भी भारत का सात प्रतिशत से ज्यादा की विकास दर आश्चर्यजनक है....और निर्मला सीतारमन जैसी फाइनेंस मिनिस्टर का होना वरदान है।
Good 👍
Politician's never fail to blame eachother
Oh, this novice journalist has spent time in Davos, hob nobbed with all the Rajans of the world, and has now become a fully fledged economist!
🤔...🤗
Superb answer from Nirmalaji. Raghuram Rajan was always politician first. His statements on India's economics clearly shows who is making him speak. May be he is promised a Nobel prize in return 😅😅
He periodically comes to India to sell some book or the other. Earlier Prannoy Roy used to interview him repeatedly and ask the same questions about Demonetisation, GST, Covid etc and his answers were as expected. He is primarily responsible for the mess in PSU banks.
Rajan is just sad that despite all the bootlicking he couldn't get a prominent position in Congress party.
We are proud to feel that we have a such super finance minister
Brilliant 👏👏👏
R3 is the Rakhi Sawant or Poonam Pandey of Economics
congratulations fm u have guts to answers fantastic and u r definitely most sincere and successful fm in independent india
Fantastic answer
👌 brilliant response
Education and wisdom are different
Why doesn't she mention anout Urjit Patel? Modi picked him...but he disagreed on various decisions of Modi regarding RBI surplus funds etc. And he resigned finally. Why there isn't any mentioning about him by her?
As if Raghuram Rajan helped India achieve 10% every year when he was the governor 😂
Our finance minister has come of age.RR is an opportunist trying to influence Yuvraj for his own benefit
I remeber her inyerview in JNU and onion comments...
Was up now..
BEST answer to the question put up by anchor 😂
Excellent response
Great answers .congratulation. keep it up.
🎉
During raghunath rajan rbi chief, many banks werein trouble of npa, not profitable.😢
Nirmala Sitaraman is very frank and exposed the ill intentions of that negative person
Didn't answer the original question.
Not Something New, Expected of her !
Exactly
Both RR and NS are not right. They both have their own arguments.
Nobody wants to talk about a failed economist.
Exactly. She didnt answer.
How did the govt got to employing a half baked economist like RR for the post of governor of SBI? Was Chidambaram in any way connected to that appointment?
Chor chor mausere bhai
Brilliant
Brilliant!
👏
Totally agree, RR failed miserably to protect Banks forget about any control whatsoever over NBFCs.
Who is Raghuram Rajan by the way? Who is Rahul Kanwal by the way?
Then how Nirmala answering the questions as a politician?
Just like Pappu, Raghu Ram Rajan sings China songs the whole day. I am glad our FM gave him a nice slap response. Raghu Ram Rajan is a tarnished mouth piece for Pappu.
All the periodical visitors from US like Dr.Sam Pitroda,Ranghuram Rangarajan who are the representative of U.S.
That guy is a rouge.
Raghuram Rajan could not have protected the banks. The damage was done by Chidambaram and Pranab Mukherjee.
All Raghuram Rajan did, was do an Asset Quality Review of the banks and exposed the NPAs.
But RR was a hypocrite in not blaming Chidu and Pranabda. Instead he trained his guns on Modi.
Excellent reply.
Raghuram Rajan is a political person not an economist
Very well said mam
What did mam say?
Chidambaram is also well educated what happend during UPA rule?
He was only professor who had no control over banking systems
When RR joined the "Bharat Jodo Yatra" He lost his credibility...What a befitting reply by Our FM 🙌🏼🙌🏼
Great answer.
This FM is like an FM radio ! When the PM is like a loudspeaker, what can we expect ?
Don't they have any other journalist
PSU market capitalisation in 2013 ,not even 13lakh crore (not to forget bank losses and NPAs)
PSU market capitalisation in 2023 50 lakh crore !
Raghuram Rajan is not a reputable economist in the US. He is bitter because Modi Ji did not extend his term. Raghu Ram desperately wants some limelight as a politician.
A slap on Raghuram by FM Sitaraman......Rajan a puppy of Rahul Gandhi
Superb reply
Well said Madam
Well put
Absolutely.. he helped india to be listed as Fragile 5
Good answer madam. You are an inspiration to entire country where financial literacy needs to increase within women. Your response on the questions, your data backed inputs are a treat to hear. For Raghuram Rajan, we should not spend even a single second discussing this failed ex governor. Madam, it amazes me to see, the poise way in which you respond to tough and controversial questions.
Any specialist comment on wealth inequality in India??
🙏🙏🙏 For our FM 🙏🙏🙏
My country is dying disguisely in Economic loopholes and under manipulated fact where it is said fcats are not facts ...
*was dying
Now we are recovering... Only biased opinion makers are saying bad... Facts are with us... This Raghuram Rajan has been predicting that India will undergo economic downturn everyday since last 5 years... None of that is happening... Bro just can't digest the fact that other RBI governors are doing better than him... He wanted Modi government to extend his tenure but due to his bad performance, he was not continued... Now he is just salty...
That's the problem with people these days... They assume ki koi harward wala keh raha hai to thik hi keh raha hoga
@@RajivKumar-xp9qn i said India is dying in a disguised manner which most of general mass. can't trace ..........if we are recovering it's no doubt but we are recovering thorough only 10 % of population were the other 90% are the worst sufferers..........the real income of the later is decreasing in a unprecedented rate ............Our FDI as a percentage of GDP is lower than UPA government......... Inflation of consumable item are reaching the sky .....say for example....in my district rice was rs 23 per kg where as its now rs 35 per kg lets not go into details........... education system is broken......... people lack scientific knowledge......... youths are being destroyed through intoxicants.......... Unemployment prevails everywhere......approx 47% or so of the Indian workforce is unemployable......let alone be unemployed.......
Oh what a great FM we have, what was the GDP growth during RR, what is it now. . .what was the employment growth then and what is it now . . .what was the Indian debt then what is it now . . .a useless minister. . . Asking a stupid question . . .RR the politician or economist . . .with respect RR was economist, RBI governor, Ivy league professor and now he can be a politician . . .what is her credential before becoming a politician . .what does she have to say about the views of her husband . . .regarding the economic policies of this government. He is certainly more educated than the honourable FM.. .
Well what RR said is true to some extent but he is biased economist and it’s not hidden fact anymore😊
When you don’t have straight answer this comes.
no clue!! who is actually right? this will be a big debate
❤❤❤❤
Plz sita ji debate with Swami ji 😂
Then for what she as FM fought with SBI Chairman?
Question ka answer nahi diya..
Super, Madam!
The banking norms? All norms written by the great conqueror.
Beautiful replied ❤️ now see if you're waking late don't blame the sun. Without basic reforms what a economist can do ?
nice answer. Thanks FM
R R more a politician then a economist, what I believe.
What about the banks which have bankrupted after BJP came to power nirmala can you tell us why thousands of crores money was written of by banks. Because corporates didnt pay back to the bank's.
She answers like a politician
He participated in Rahul Gandhi 's Bharat Jodo Yatra.. I don't know in which capacity he participated in the yatra either as economist or politician? One fine morning he may become Rajyasabha member by the curtacy of congress🤔
We have now the best and honest Finance Minister in the history of our country.
ED comes under her.
Rahul, would request U to once listen carefully to Ruchir Sharma whom U've even interviewed.
He has repeatedly explained that in the current state of world affairs it's next to impossible to grow at 9%
Not only raghuram rajan many economic advisors to pm also resigned their jobs. No one knows who is at fault
What a repartee mam! 🎉
How can anyone take raghuram rajan seriously who interviewed Rahul Gandhi 😅
Politician or not, R Rajan said the correct thing, we're massively underperforming.
RRR thought he is shrewd,
But
in reality he is gracefully Screwed.
Hahaha
Proud of our FM and PM for their result oriented hard work.
We are proud of you maam jai hind