RBI seemingly hatching conspiracy to strengthen private and foreign banks:Sanghani

Sanghani after meeting PM Modi yesterday in Delhi

Ahmedabad: Chairman of National Federation of State Cooperative Banks (NAF-SCOB) and senior BJP leader, Dilip Sanghani today alleged that he RBI was seemingly hatching a conspiracy to strengthen the private and foreign banks in the country.

Sanghani, also a former Gujarat minister during the regime of the then chief minister Narendra Modi, has openly expressed his displeasure over the treatment of the RBI to the cooperative banks post demonetization of Rs 500/1000 notes.

Talking to newsmen today he said that while the RBI was tightening its noose on cooperative banks on the grounds that peoples representatives (political leaders) were its board members, it was openly supporting the private and foreign banks.

He said that if the RBI did not relax the restrictions on the cooperative banks with regard to exchange and deposit of notes, it would become clear that it was a conspiracy on its part to willfully strengthen the private and foreign banks in the country. Sanghani claimed that the RBI on several issue was not taking the union government in to confidence.

Notably Mr Sanghani had met Union Minister of State for Finance Santosh Kumar Gangwar on this issue.

The apex bank had barred cooperative banks in Gujarat from accepting or exchanging defunct currency notes from people.

DeshGujarat