Rahul calls on RBI Guv to stand up to govt pressure
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Rahul calls on RBI Guv to stand up to govt pressure

New Delhi, Nov 6: Reacting to reports that the Finance Ministry was seeking to transfer a surplus of Rs 3.6 lakh crore, more than a third of the total Rs 9.59 lakh crore reserves of the Central bank to the government, Congress president Rahul Gandhi on Tuesday called on Reserve bank of India Governor Urjit Patel, to stand up to the pressure from the government.

In a post on social media, Rahul said, 'Rs 36,00,00,00,00,000 That’s how much the PM needs from the RBI to fix the mess his genius economic theories have created. Stand up to him Mr Patel. Protect the nation.'

Reports said that there was a proposal by the Finance Ministry, seeking to transfer a surplus of Rs 3.6 lakh crore, more than a third of the total Rs 9.59 lakh crore reserves of the central bank, to the government.

The ministry has suggested that this surplus can be managed jointly by the RBI and the government.

AICC Media In-charge Randeep Surjewala also responded on Twitter, saying 'Economic Anarchy enacted by ‘Modinomics’! Flawed,Faulty and Fatal Economic Policies of Modi Government have shaken Faith of people in Banks! Fraudsters fled away with crores, NPA’s soaring! But a Failed Modi Govt wants to squeeze RBI reserves to create another Economic Mahyem?'

Congress has been attacking the Narendra Modi government for trying to dilute the autonomy of RBI by invoking Section 7 of the RBI Act, which empowers the Central government to issue directions to the RBI in the matters of public interest. UNI