Union govt.’s interference in RBI has led to crisis: Gowda

Former Prime Minister and JD(S) Supremo H.D. Deve Gowda on Saturday lambasted the Centre for its economic policies and alleged that during the BJP’s tenure the Reserve Bank of India had been destabilised instead of being given freedom.

Speaking to presspersons in Hubballi, Mr. Deve Gowda said that under Prime Minister Narendra Modi’s regime, the Centre interfered too much with the functioning of RBI.

Mr. Deve Gowda said that former RBI Governor Raghuram Rajan had not allowed the Centre to interfere. But subsequently, the Centre had continued its policy of interfering in the functioning of RBI, resulting in a spate of resignations of financial experts.

He alleged that too much interference had resulted in extending financial assistance to ineligible borrowers. He also alleged that irregularities were done during the ‘note ban’.

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Printable version | May 29, 2020 4:46:58 PM | https://www.thehindu.com/news/national/karnataka/union-govts-interference-in-rbi-has-led-to-crisis-gowda/article31013943.ece

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