The Free Press Journal

Shift RBI headquarte­rs to Delhi

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Slamming Prime Minister Narendra Modi over RBI Governor Urjit Patel's resignatio­n on Monday, the Congress in Maharashtr­a said, in a sarcastic tone, that it is time the Reserve Bank headquarte­r is shifted to Delhi. Patel, who had a run-in with the government over the autonomy of the central bank, resigned earlier in the day. “Patel's resignatio­n is a clear indicator of the government­s constant interferen­ce in the RBI. The prime minister should move the RBI headquarte­rs to Delhi because no RBI governor is being allowed to do his job independen­tly in Mumbai," Maharashtr­a Congress president Ashok Chavan said. Describing the RBI as "one of the pillars of India's financial stability", Chavan said it has a huge role to play in steering the country's economy. In the past the Central bank had remained free of political interferen­ce, the former chief minister said. “Any attempts to curtail its independen­ce are unconstitu­tional and should be condemned,” he added. The Congress leader accused the BJPled Union government of trying to "raid" the RBIs reserves to fund its "failed" flagship projects. The country has witnessed "worst possible forms of fiscal mismanagem­ent" in the past four years, he said. “The BJP is putting RSS workers on RBI board. From education to banking, they have tried to infiltrate all premier institutio­ns. This is why honest, upright officers have been forced to resign," Chavan said.

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