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Banking unions flay RBI’s move to release 1.76 lakh cr to Centre
Economy

Banking unions flay RBI’s move to release 1.76 lakh cr to Centre

Agency News

Aurangabad, Aug 27: All India Bank Employees Association (AIBEA) and the Maharashtra State Bank Employees Federation (MSBEF) on Tuesday slammed Reserve Bank of India's decision to grant Rs 1.76 lakh crore to centre.

The centre has dismantled one more autonomous institution, they said.
Com Tuljapurkar in his press statement termed this as the beginning of end of RBI which acted upon tailor made recommendations of H.M.Patel Committee on disposal of surplus reserves with RBI. This decision will prove disastrous for the economy in long term, he said adding that it is more tragic as crisis is looming over Indian economy.

Alleging that this has been done so by design, he said that Indians have got every right to know why government wants this surplus amount? Government is accountable and answerable to the people, he pointed out. (UNI)