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RSS ideologue, Swadeshi Jagran Manch convenor S Gurumurthy is RBI Director

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RSS ideologue, Swadeshi Jagran Manch convenor S Gurumurthy is RBI Director

The Modi government on Tuesday, August 7, appointed S Gurumurthy – the editor of Thuglak and a chartered accountant who is also convener of the Swadeshi Jagran Manch (SJM), an outfit affiliated to the right-wing Rashtriya Swayamsevak Sangh (RSS) – to the board of the Reserve Bank of India.

The Centre also approved the appointment of Satish Marathe, a banking industry executive with decades of experience, founder of Sahakar Bharati, an NGO that works to support cooperatives and a former member of RSS and BJP’s student wing Akhil Bharatiya Vidyarthi Parishad (ABVP), to the RBI’s board.

Both Marathe and Gururmurthy will serve as “part-time non-official directors” on the RBI’s central board and will have a four-year term.

“The Appointments Committee Of The Cabinet has approved the proposal of the Department of Financial Services for the appointment of Shri Swaminathan Gurumurthy, as part-time non-official director on the Central Board of the Reserve Bank of India under Section 8(1)(c) of the RBI Act 1934, for a period of four years from the date of notification of the appointment…,” said the government notification.

The RBI board has official and non-official directors. Officials directors include the RBI’s governor and not more than four deputy governors. Non-official directors are appointed by the government, with the RBI Act allowing for up to ten directors to be nominated.

Generally speaking, in the past, non-official directors have included people without publicly-declared political leanings, said media reports. The appointment of non-official directors usually include well-known economists, experts, captains of industry in addition to two government officials.

The candidates appointed in the present case, however, have clear political leanings. While Gurumurthy is an economist, chartered accountant and a longtime commentator on economic and political affairs, he is also a prominent supporter of the current BJP government at the Centre and of Prime Minister Narendra Modi.

Marathe, on the other hand, has had stints at Bank of India, the United Western Bank Ltd, Janakalyan Sahakari Bank among others over the last 20 years and is the founder of Sahakar Bharati, an NGO that works to support cooperatives. His focus and experience has been on cooperative banks and their impact on the rural and agricultural sector.

In his younger days, Marathe was associated with the right-wing ABVP, a large pan-India student organisation that is affiliated to the RSS. According to media reports, he served as the ABVP’s treasurer for four years.

Gurumurthy is part of a small group of swadeshi economics thinkers whose views are given considerable importance by Modi and key finance ministry bureaucrat Hasmukh Adhia, reported The Wire. These proponents of ‘economic nationalism’ are generally opposed to foreign capital and businesses and instead believe that India’s 50-million small and medium businesses can create jobs and transform the Indian economy.

Gurmurthy is believed to have played an important role in suggesting and supporting the Modi government’s demonetisation move, its MUDRA scheme and the Niti Aayog’s position of focusing on a “Bharatiya approach to development”.

India Today magazine ranked him at number 30 in India’s 50 Most powerful people of 2017 list. S Gurumurthy has never contested any election so far.

S Gurumurthy is also said to have advocated the replacement of the Planning Commission with a new body, like the NITI Aayog favouring an Indian approach to development, according to a report in The Indian Express.

After reportedly providing consultation on demonetisation before it happened, Gurumurthy defended the move, calling it a much-needed attack on excessive liquidity and a “fundamental corrective to the economy”, The Wire report said.

In his long career, Gurumurthy has written and spoken on monetary policy, jobs, RBI and such macro-economic issues, including why Raghuram Rajan was not given a second term.

In September 2017, he criticised the Central bank’s provisioning norms, noting that it did not take into account “non-convertibility, no foreign investments in banks, govt ownership and 30% deposits being in government securities”. He lashed out at RBI, noting that it was “agenda-driven” and trying to destroy Indian business.

The RBI’s central board is not normally a decision-making body and instead serves as a forum or venue for discussion. However, it does serve as a platform for important public-facing decisions such as demonetisation or a move to change the central bank’s dividend policy.

Other policy decisions, such as interest rate cuts, are handled by the separate monetary policy committee.

With these appointments, the Modi government has filled its quota of ten directors to RBI’s board.

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Security forces arrest 14 Pakistani nationals with around 86 kg of drugs, worth Rs 600 crore near Gujarat Coast

The Indian Coast Guard took to X and wrote in a breathtaking overnight operation, Indian Coast Guard undertook an intelligence-based anti-narcotics operation at sea on 28 Apr 24. About 86 kg of narcotics which is worth Rs 600 crore has been apprehended along with the arrest of 14 Pakistani nationals.

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The Indian Coast Guard on Sunday announced the interception of a Pakistani vessel laden with 86 kg of narcotics valued at Rs 600 crore. Acting on intelligence, a joint operation involving the Indian Coast Guard, the Anti-terrorism Squad (ATS), and the Narcotics Control Bureau (NCB) was launched to combat drug trafficking in the area.

The operation was carried out by the agencies based on intelligence inputs received in the last few days. The Indian Coast Guard took to X and wrote in a breathtaking overnight operation, Indian Coast Guard undertook an intelligence-based anti-narcotics operation at sea on 28 Apr 24.

About 86 kg of narcotics which is worth Rs 600 crore has been apprehended along with the arrest of 14 Pakistani nationals. The operation was an epitome of inter-agency coordination wherein the Indian Coast Guard Anti-terrorism Squad and Narcotics Control Bureau  collaborated seamlessly which resulted in the successful operation.

The ships and aircraft of the Indian Coast Guard had been deployed on concurrent missions to carry out the operation. ICG ship Rajratan, which had Narcitics Control Bureau and Anti Terrorist Squad officials embarked, positively identified the suspect boat.

No amount of evasive maneuvering tactics and resistance employed by the drug laden Pakistani boat could save it from the swift and strong action of ICG ship Rajratan. This operation took place on the basis of a tip-off by the Indian Coast Guard, Narcotics Control Bureau and Gujarat Anti-Terrorist Squad in the Arabian Sea near the International Maritime Boundary Line.

The operation was the 2nd major anti-narcotics operation carried out by the security forces in the Arabian Sea in 1 month. Earlier on February 26, 5 foreign nationals were held off the Porbandar coast with 3,300 kg of narcotics, including charas. Recently a boat carrying 60 packets of drugs was seized and 6 Pakistani crew members onboard the vessel were arrested off the Gujarat coast in a multi-agency operation in March.

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2024 Lok Sabha Elections

Election Commission orders AAP to modify Lok Sabha campaign song

AAP minister Atishi attacked the ECI for putting a ban on the party’s Lok Sabha election campaign song. She said this has happened for the first time in the history of India that the Election Commission has put a ban on the election song of a political party.

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The Election Commission of India asked the Aam Aadmi Party to modify its election campaign song on Sunday. The Election Commission pointed out that the phrase jail ke jawaab me hum vote denge shows an aggressive mob holding the photo of Arvind Kejriwal showing him behind bars, casts a bad impression of the judiciary. The ECI added that the phrase appears several times in the advertisement which contravenes the provisions of ECI Guidelines and Rule 6(1\(g) of Programme and Advertising Codes prescribed under the Cable Television Network Rules, 1994.

AAP minister Atishi attacked the ECI for putting a ban on the party’s Lok Sabha election campaign song. She said this has happened for the first time in the history of India that the Election Commission has put a ban on the election song of a political party.

The Election Commission listed some of the phrases that it found in violation of codes. The phrase: Tanashahi party ko hum chot denge with the video clip showing the protesters clash with the police (running from 00:21 to 00:23) incites violence. The phrase: gunda gardi ke khilaf vote denge and Tanashahi karne wali party ko hum chot denge running from duration 00:27 to 00:32 Sec with the video clip showing Manish Sisodia being escorted by the police. The words and the video clip shows the police in bad light.

The Election Commision said the phrase: Awazein khilaf thi jo sabko jail me daal dia, bas unko hi bahar rakha jisne inko maal dia. Itna lalach, itna nafrat, bhrastachari se mohabbat shows slanderous remarks and is a criticism of BJP on the basis of unverified facts and also casts bad impression of the judiciary. The Election Commission stated that the phrase Tanashahi party ko hum chot denge with the video clip showing aggressive mob clashing with the police shows criticism of the ruling party based on unverified facts.

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2024 Lok Sabha Elections

PM Modi criticises Rahul Gandhi for allegedly insulting Hindu kings, accuses Congress of not addressing atrocities by Muslim rulers

The prime minister was addressing an election rally in Karnataka’s Belagavi where he said, the statements made by the Shehzada of Congress have been made very thoughtfully to appease their vote bank. But the Shehzada does not utter a word about the atrocities committed by the Nizams, Nawabs, Badshahs and Sultans.

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Prime Minister Narendra Modi on Sunday attacked Congress leader Rahul Gandhi for allegedly insulting Hindu kings but not saying a word on atrocities committed by Muslim rulers like Aurangzeb. The prime minister was addressing an election rally in Karnataka’s Belagavi where he said, the statements made by the Shehzada of Congress have been made very thoughtfully to appease their vote bank. But the Shehzada does not utter a word about the atrocities committed by the Nizams, Nawabs, Badshahs and Sultans.

Congress does not remember the atrocities committed by Aurangzeb who destroyed thousands of Hindu temples.  He said Congress forms political alliances with parties who praise Aurangzeb. PM Modi said the Congress do not talk about all those who destroyed Hindu pilgrimage sites, looted them, killed Hindu people, and killed cows.

The Prime Minister was referring to a video clip of Rahul Gandhi which was shared by many BJP leaders. In the video clip, the Gandhi is heard saying, during the rule of Rajas and Maharajas, they could do whatever they wanted and even grab someone’s land. The Congress fought for India’s independence and brought democracy in the country.

PM Modi also mentioned the death of a Karnataka Congress corporator’s daughter, who was killed by her former colleague in her college.  He said the Congress government gives priority to appeasement and for them, the lives of daughters like Neha have no value. The prime minister further added that the Congress is only concerned about its vote bank.

Neha Hiremath, daughter of Congress Councillor of Hubballi-Dharwad Municipal Corporation Niranjan Hiremath, was murdered on the campus of BVB College on April 18 by her ex-classmate Fayaz. PM Modi accused Congress for supporting anti national parties like PFI (Popular Front of India) for votes which is an anti-national organisation that gives shelter to terrorism and which has been banned by the Modi government.

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