On RBI, Congress asks Modi govt to learn from Argentina's experience

Reminds PM of the time the Latin American country's govt resorted to raiding the reserves of its central bank, and triggered a collapse of its economy

The Congress on Tuesday cautioned the Narendra Modi government to learn from Argentina’s experience of 2008-2014 when the Latin American country’s government resorted to raiding the reserves of its central bank, triggering a collapse of its economy.

A day after the Reserve Bank of India (RBI) approved transfer of Rs 1.76 trillion dividend and surplus reserves to the Centre, Congress leader and former union minister Anand Sharma called the government’s decision "catastrophic". He said the Modi government would do well to learn from the Argentine experience of some years back when its government forced that country’s central bank to transfer its