Modi govt is raiding RBI for illegal, impermissible electoral sops: Congress

Abhishek Manu Singhvi

New Delhi, Nov 12: In a scathing attack, the Congress on Monday said that as elections are nearing, the Narendra Modi government is planning to loot the Reserve Bank of India reserves. 

“Government of India is raiding RBI, a pillar of govt, for illegal and impermissible electoral sops. This is totally unthinkable in a democracy”, Senior Congress leader Abhishek Manu Singhvi said in a press conference.

“The Centre is coercing the apex bank to pay a special dividend of Rs 3.6 lakh crore, equal to nearly 40% of reserves accumulated over decades. This is 2% of India’s GDP”, he added.

Continuing his attack, the Congress leader further stated “the BJP government nefariously seeks to take away ‘Contingency Reserve’ under the garb of fixing appropriate economic capital framework of RBI”.

“This is totally unthinkable in a democracy”.


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