That's not an allegation against him, but there could be a conflict of interest here. Rockefeller family is one of the most powerful political and business family in USA involved in oil and banking businesses, and like most big western oil companies, it has its fair share of alleged notoriety. The "Group of 30" is an elite group of economists, it is funded and managed by the Rockefeller Foundation, and it is a staunchly pro-American organization. Rajan became it's member a few months before he was appointed as the RBI Governor, and he still holds the membership of G30. Again, it's not an allegation, but an apparent conflict of interest.
Modi continued with almost all the people in significant posts from UPA regime, Rajan was not sacked or ousted, his term has ended, and he was not asked to continue for a 2nd term. Since when renewing term is obligatory?
He is somehow became a 'famous' RBI Governor (that's unusual), hordes of people in social media are repenting 'the loss to India', although nobody seems to be sure about what extraordinary things he did. If he gets credit for things that he may or may not have done, he also has to share the responsibility of the terrible things that happened under his watch.
A government is an elected representative of the people and answerable to people for its work, the RBI governor is recruited by the elected government and not answerable to people. Government needs to meet peoples' expectations and all its arms are required to work in coordination, not in conflict. I think the government had some conflict, or uncomfortable relation with the current 'rockster', outspoken, RBI Governor. Every leader seeks a coordinated group to work with, happens in corporate sector also.
Define disaster!
In last 69 years many RBI Governor have come and gone, fate of the nation always depended upon the quality of political leadership. And there is absolutely no reason to believe that this country doesn't have enough capable economists to do the job well, though they may not be as good looking as Rajan.
Here is a list of probable candidates:
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