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This article is more than 2 year old.

Shift RBI headquarters to Delhi: Congress on Urjit Patel's exit

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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.

Shift RBI headquarters to Delhi: Congress on Urjit Patel's exit
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 BJP-led 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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