RBI Governor Raghuram Rajan is well known for his bold and candid approach. Mr Rajan flaunts an impeccable reputation of intellect and transparency. This was pretty evident in the way the Governor had ruthlessly lashed out on a ‘certain’ businessman of the country for his frivolous lifestyle despite owing a huge debt to the government.
The remarks were clearly directed at none other than the liquor baron and promoter of Kingfisher Airlines, Vijay Mallya. The RBI Governor Raghuram Rajan has lashed out at few ‘defaulters’ who flaunt their lavish lifestyles.
“If you flaunt your birthday bashes even while owing the system a lot of money, it does seem to suggest to the public that you don’t care. I think that is the wrong message to send. If you are in trouble, you should be cutting down your expenses,” said Rajan.
Not much a coincidence, Mr Mallya had recently celebrated his 60th birthday in Goa in the usual trademark high end style.
Going by the reports, there were over 600 guests at the bash, out of which many were put up in Mr Mallya’s villa while others were hosted in the luxurious Vivanta of the Taj resort.
And if you thought that was it, here’s more. The guests were entertained by a hired event management company, and there was an act by none other than international pop star Enrique Iglesias.
In the daylight of realities, Vijay Mallya and Kingfisher Airlines reportedly owe banks over Rs 7,500 crore, which over 17 banks are about to lose in the battle to recover this money.
In an interview with a leading news channel, Rajan also added, “The system has been geared to favoring those who have the ability to work the courts. The policy that you (large businessmen) follow is that during good times you take the upside but in bad times you go to banks and ask how much of a haircut are you going to take?”
The King of Good Times is yet to retaliate on that one.