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Modi trying to weaken RBI by mobilising reserve fund: A C Vinayraj

Modi trying to weaken RBI by mobilising reserve fund: A C Vinayraj

SC GM   ¦    Nov 07, 2018 05:34:18 PM (IST)

Modi trying to weaken RBI by mobilising reserve fund: A C Vinayraj-1Mangaluru: Dakshina Kannada district Congress spokesperson A C Vinayraj has condemned the union government for seeking the reserved fund of Reserve Bank of India (RBI) and alleged that the Centre was trying to weaken RBI.

Speaking to the reporters at the District Congress Office on Wednesday, November 7, Vinayraj said, "The Narendra Modi-led union government has sought for a reserve fund of around Rs 3.6 Lakh Crores from RBI in order to help the Non-Banking Financial Corporation (NBFC). Modi has been trying to mobilise funds from RBI to NBFC to appease his close friends there. It is not fair to use the government funds to favour personal contacts", he said.

Vinayraj alleged that Prime Minister Narendra Modi had nominated two BJP leaders namely Gurumurthy and Sathish Marate as the board of 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 violated the rules", he said.

Vinayraj also informed that as many as 11 banks in our country have been running short of capital. "Though Modi promised `acche din`, it is now proven that his words are fake", he added.