Opp accuses RSS, BJP ministers of lobbying against Rajan

"But in the last few days, the kind of expressions which were used attributing certain motives which were never there in his performance and his functioning. I think if there is a person with a moral framework, somebody committed to his values, what else do you expect him to do," he said.

Rajan has taken the right decision because "seeking a second term would have have meant working with people like Swamy," he added.

BJP MP Subramanian Swamy, who ran a tirade against Rajan, took a jibe at the outgoing RBI Governor over his decision yesterday, saying whatever "fig leaf" he wants for hiding the reality, the people should not grudge it and wish him good bye.

Former Finance Minister P Chidambaram had said he was "disappointed and profoundly saddened" by Rajan's decision against a second term, but was not surprised by the development.

"As I had said sometime ago, this government did not deserve Rajan. Nevertheless, India is the loser," he said, alleging that the government had invited this development through a craftily-planned campaign of insinuations, baseless allegations and puerile attacks on a distinguished academic and economist.

Rajan was appointed RBI Governor by the UPA government in 2013 when Chidambaram was the finance minister.

Congress spokesperson Manish Tewari had alleged that the government had "hounded" a good man as it did not have the courage to ask him to leave.

"The message that this fascist government is sending to regulators is that if you do not toe our line we will mount a campaign of calumny and wild insinuations and bludgeon you into submission. What Rajan has done is what any self- respecting man under such circumstances will do," he had said, adding the RBI governor had done "phenomenal" work in his tenure.