Ahead Of RBI Board Meet, Rahul Gandhi Accuses Modi Government Of Destroying Institutions
Ahead of the crucial Reserve Bank of India board meeting, Congress President Rahul Gandhi accused Prime Minister Narendra Modi of destroying institutions, and added that he hoped RBI Governor Urjit Patel has a "spine" and will show the prime minister "his place".
Taking to Twitter, Gandhi accused Modi and his "coterie of cronies" of destroying institutions.
RBI's crucial board meeting today is expected to take up the liquidity crisis that has triggered a tiff between the government and the central bank.
The meeting is being held amid tension between the Centre and the RBI, after Finance Ministry cited the never-used-before Section 7 of the RBI Act, which empowers the government to issue directions to the RBI Governor.
The government on Nov. 9 had said it was discussing an "appropriate" size of capital reserves that the central bank must maintain but denied seeking a massive capital transfer from the RBI.
Economic Affairs Secretary Subhash Chandra Garg had also clarified that the government wasn't in any dire needs of funds and that there was no proposal to ask the RBI to transfer Rs 3.6 lakh crore.