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Rahul urges RBI Governor to stand up to government pressure

IANS  |  New Delhi 

on Tuesday urged Reserve of to stand up to the government that is asking the central for money to "fix the mess his (Narendra Modi's) genius economic theories have created".

Embedding an Indian Express report that said that the was asking the central to transfer a surplus of Rs 3.6 lakh crore to the government, Rahul tweeted: "Rs 36,00,00,00,00,000. That's how much the needs from the RBI to fix the mess his genius economic theories have created."

"Stand up to him Mr. Patel. Protect the nation," he added.

report, quoting sources, said that the RBI felt the government's attempt to dip into its reserves can adversely impact macro-economic stability and has thus been averse to the proposal.

The reported amount of Rs 3.6 lakh crore is more than one-third of the total reserves of Rs 9.59 lakh crore the RBI maintains to cover various risks including market risk, operational risk, credit risk and contingency risk.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 18:00 IST
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