From Our Bureau
NEW DELHI: Congress general secretary and chief spokesman Jairam Ramesh on Friday asked the government to heed to the warning in the RBI monthly bulletin that “large scale privatisation of PSBs or the big bang approach will do more harm than good.”
In a tweet, he said the number of the public sector banks have already come down from 27 to 12 and the government’s plan is to reduce them to just one. He said the RBI is clear that it is an invitation for a disaster.
He said the Modi government has, however, always done own “manmaani” (arbitrariness) as it had also not accepted the advice of the RBI on the demonetisation (note-bandi) of the currency notes.
NOT RBI VIEW: Meanwhile, the RBI on Friday clarified that “the views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India.”
The article was published in its monthly bulletin as written by Snehal S Herwadkar, Sonali Goel and Rishuka Bansal of the Banking Research division, Department of Economic and Policy Research in the RBI.
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