HDD accuses Modi govt of ‘destabilising’ RBI


Team Udayavani, Mar 8, 2020, 10:50 AM IST

Bengaluru: Former Prime Minister H D Deve Gowda on Saturday accused the Narendra Modi-led government at the Centre of ‘destabilising’ the Reserve Bank, by ‘attacking’ its autonomy and ‘loosening’ its system.

The JD(S) chief’s comments in the backdrop of the Yes Bank crisis.

“Vajpayee was Prime Minister for six years, Manmohan Singh for ten years, this is the sixth year for Modi. During his (Modi’s) period Reserve Bank has become like a department of Finance Ministry. It had statutory provisions, autonomy (in the past)…” Gowda said.

Speaking to reporters in Hubballi, he said, “Under Modis leadership RBI was destabilised, its autonomy was attacked.

“Impartial and honest advice of financial advisers were neglected from being implemented. Reserve Bank is the controlling authority to all the banks and the system there was loosened,” he added.

Cash-starved Yes Bank was placed under a moratorium, with RBI capping deposit withdrawals at the bank at Rs 50,000 per account for a month and superseding its board.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Farooq Abdullah seeks inquiry into spike in terror attacks in Valley since Omar’s swearing-in

Sabarimala pilgrims to get free insurance coverage of Rs five lakh

Related Articles More

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Kumaraswamy sheds tears during elections but vanishes when people are in tears: Shivakumar

CM Siddaramaiah promises efforts to include Kannada label on products made in Karnataka

“Chinnara Banna-2024” held successfully in Bantwal

Kharge getting personal on PM’s political observations on Karnataka surprising: BJP MP

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.