‘Modi govt weakening RBI, CBI’

Former minister B Ramanath Rai addresses the protest organised by the District Congress Committee, to mark the second anniversary of demonetisation and proposed merger of Vijaya Bank, in front of the DCC office in Mallikatte in Mangaluru on Friday.

The District Congress Committee (DCC) staged a protest to mark the second anniversary of demonetisation and proposed merger of Vijaya Bank in front of DCC office in Mallikatte on Friday.

Addressing the protesters, former minister B Ramanath Rai said that the reserve fund of the RBI is used only when country becomes bankrupt. Unfortunately, the Cetre has hatched a conspiracy to utilise one third of the reserve fund of the RBI.

He accused the Modi government of weakening autonomous institutions like RBI and CBI.

“Even after two years of demonetisation, the impact is felt by the people. The small and medium industries could not recover post demonetisation. The demonetisation had affected the entire economy of the country,” Rai charged

He alleged that BJP is engaged in spreading false information on the economy of the country.
He said:“Vijaya Bank is a honour to the district. The Centre’s proposal to merge profit making Vijaya Bank with Dena Bank which is under loss should be condemned. Why are the MP and BJP MLAs from the district silent about the proposal? Why have they failed in protecting Vijaya Bank?”

MLC Ivan D’Souza, District Congress Committee President Harish Kumar, Mangaluru City Corporation (MCC) Mayor Bhaskar Moily among others were present.

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‘Modi govt weakening RBI, CBI’

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