Grenade...

Union home minister Rajnath Singh spoke to the chief minister and assured “strong action” against those responsible for the attack.

The attack on the gathering of the Nirankari sect, whose members are considered heretics by some Sikh traditionalists, sounded a fresh alarm across the border state ahead of Friday’s birthday celebrations of Guru Nanak, the first Sikh Guru.

The Nirankari sect, with headquarters in Delhi, has millions of followers across the country and abroad. Delhi Police declared a high alert after the grenade attack, and security around a Nirankari establishment in north Delhi’s Burari was stepped up. “Being the national capital, Delhi remains on alert throughout the year. We have, however, intensified our security apparatus to ensure no untoward incidents take place in the city...,” Delhi Police spokesperson Madhur Verma said.

Initial investigations into Sunday’s attack found that two men — their faces covered — forced their way into the building by brandishing a pistol, CM Singh said. One of them overpowered the guard at the gate and lobbed the grenade into the prayer room. Then, they fled on their motorcycle.

Sukhdev Kumar, 58, a preacher of the sect’s Rajasansi unit; Kuldeep Singh, 40, and Sandeep Singh, 17, died in the explosion. All of them were residents of nearby villages. Those wounded are undergoing treatment in two hospitals in Amritsar.

“The people had gathered for prayers. There were around 200 people. Preliminary reports suggest that the two persons threw one grenade...no firing took place,” Punjab police inspector general (border range) SPS Parmar said, adding that no CCTV camera was installed at the prayer hall. a notch, and maybe slow them down too.

RBI’S central board currently has 18 members, including five full-time directors from the central bank, including Patel and the four deputy governors. It has two government representatives - secretaries from the departments of economics affairs and financial services.

WORST-CASE SCENARIO

The meeting could end up being confrontational as reported by Mint last week. Mint quoted an unnamed person familiar with the developments in RBI that the Union government would be aggressive in its interventions at the meeting and take RBI deputy governor Acharya to task for publicly airing the internal board discussions in a speech, bringing the whole conflict into the public domain.

Indeed, it was Acharya’s speech that marked the turning point in the simmering dispute between RBI and the Union government—which has been particularly incensed over the last few months about what it believes are lapses in regulatory oversight by the banking regulator, first, in not capturing the Punjab National Bank fraud, and, second, missing the crisis developing in Infrastructure Leasing and Financial Services Ltd, which, in turn is, threatened to cascade into a wider crisis in non-banking financial companies. That crisis has been averted, but North Block (where the finance ministry is located in New Delhi) isn’t happy at RBI’S handling of both issues.

Soon after Acharya’s speech, the government went on the offensive by initiating consultations with RBI under Section 7 (1) of the RBI Act. According to this, “the central government may from time to time give such directions to the bank as it may, after consultation with the governor of the bank, consider necessary in the public interest”.

If neither side is willing to revisit their existing positions, then it is likely that the board will adopt a vote. According to Section 8(3) of the RBI Act, the four deputy governors and the two government representatives do not have voting rights. That leaves the governor with the casting vote and 11 other members to decide the fate of the resolution.

The hope, in all quarters, including the government, is that it won’t come to a vote. Which is why much will depend on the guidance provided by Patel.