PM trying to weaken RBI

Team Udayavani, Nov 7, 2018, 6:17 PM IST

Mangaluru: Condemning the union government for seeking the reserved fund of Reserve Bank of India (RBI), Dakshina Kannada district Congress spokesperson A C Vinayraj alleged that Modi was trying to weaken the RBI.

Addressing the media at the district Congress office, Vinauraj said,” The Narendra Modi-led union government has sought for a reserve fund of around Rs 3.6 lakh crore from RBI with the aim to help the Non-Banking Financial Corporation (NBFC). Modi has been trying to mobilize funds from RBI to NBFC to appease his close friends there. It is unfair to use government funds to favour personal contacts,” he pointed out.

Modi has nominated two BJP leaders Gurumurthy and Sathish Marate as the board members of RBI. “As per the guidelines, financial experts should be nominated for the Board of Members. However, in order to favour BJP leaders, Modi has violated the rules,” alleged Vinayraj.   

“11 banks in our country are running short of capital,” said Vinayraj and pointed out that though Modi promised ‘Acche Din’, it is now proven that his words were lies.