HYDERABAD: Slamming the Centre for invoking a clause of the RBI Act and amid reports that the Reserve Bank of India Governor was ruminating over resigning from his post, All India Majilis-e-Ittehadul Muslimeen chief Asaduddin Owaisi slammed the BJP-led NDA government for allegedly being “hell-bent on destroying” all autonomous institutions in the country.
Speaking to mediapersons at the party headquarters in Darussalam, Owaisi said, “If the RBI Governor steps down, then certainly it’s the consistent policy of the Modi government to pull down independent organisations in their four years of rule. If he resigns, it will be interference in autonomy of RBI — like they destroyed CBI’s autonomy. Now it is the RBI’s turn.”
Earlier in the day, without acknowledging the notices sent to RBI under Section 7 of the RBI Act, the finance ministry in a statement said autonomy was “essential” but its functioning must be guided by public interest and needs of the economy.
Owaisi also said that Section 7 of the RBI Act would be detrimental to the economy. “If the (RBI) Governor steps down...it will be very bad news. It will send a wrong message to the international business community.”
He laid the blame for the deteriorating RBI-Government relationship with Prime Minsiter Narendra Modi. “He thinks he is an expert of experts. The Centre believes that they are examples of the best wit and knowledge,” he said.