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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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PM Modi assures no discrimination in women’s quota, delimitation debate intensifies in Parliament

PM Narendra Modi has assured that women’s reservation will be implemented without discrimination, amid a heated debate over delimitation in Parliament.

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Prime Minister Narendra Modi has assured that there will be no discrimination in the implementation of women’s reservation, as Parliament witnessed a sharp debate over the proposed linkage between the quota and delimitation exercise.

During the ongoing special session, the government reiterated its commitment to ensuring fair representation while addressing concerns raised by opposition parties regarding the timing and structure of the legislation.

The proposed framework aims to reserve 33 percent of seats for women in the Lok Sabha and state assemblies. However, its implementation is tied to a fresh delimitation exercise, which is expected after the next census.

Opposition questions timing and intent

Opposition leaders have raised concerns that linking the women’s quota to delimitation could delay its implementation. They argue that the process of redrawing constituencies may push the actual rollout further into the future.

The issue has triggered a broader political confrontation, with multiple parties questioning whether the move could alter representation across states.

Some critics have also alleged that the delimitation exercise could disproportionately benefit certain regions based on population, a charge the government has rejected.

Government reiterates commitment to fair implementation

Responding to these concerns, the Centre has maintained that the reforms are necessary to ensure accurate and updated representation based on population data.

Leaders from the ruling side have repeatedly emphasized that the process will be carried out transparently and without bias. The assurance that there will be “no discrimination” is aimed at addressing fears among states and opposition parties.

The debate marks a key moment in Parliament, with both sides engaging in intense exchanges over one of the most significant electoral reforms in recent years.

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Give all tickets to Muslim women, Amit Shah says, attacking Akhilesh Yadav on sub-quota demand

A sharp exchange between Amit Shah and Akhilesh Yadav in Parliament over sub-quota for Muslim women highlights key divisions on women’s reservation implementation.

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A heated exchange broke out in Parliament during discussions on the women’s reservation framework, with Union Home Minister Amit Shah and Samajwadi Party chief Akhilesh Yadav locking horns over the demand for a sub-quota for Muslim women.

The debate unfolded as the government pushed forward key legislative measures to implement 33% reservation for women in the Lok Sabha and state assemblies.

Akhilesh Yadav argued that the proposed reservation must ensure representation for women from marginalised communities, including Other Backward Classes (OBCs) and Muslim women. He said that without such provisions, large sections could remain excluded from political participation.

He also questioned the timing of the bill, alleging that the Centre was avoiding a caste census. According to him, a census would lead to renewed demands for caste-based reservations, which the government is reluctant to address.

Government rejects religion-based quota

Responding to the demand, Amit Shah made it clear that reservation based on religion is not permitted under the Constitution.

He stated that any proposal to provide quota to Muslims on religious grounds would be unconstitutional, firmly rejecting the idea of a separate sub-quota for Muslim women within the broader reservation framework.

The government has maintained that the existing framework already includes provisions for Scheduled Castes (SC) and Scheduled Tribes (ST) women within the overall reservation structure.

Wider political divide over implementation

The issue of sub-categorisation within the women’s quota has emerged as a major flashpoint, even as most opposition parties broadly support the idea of women’s reservation.

Samajwadi Party leaders reiterated that their support for the bill depends on inclusion of OBC and minority women, while the government continues to defend its constitutional position.

The debate is part of a broader discussion during the special Parliament session, where multiple bills linked to delimitation and implementation of the women’s quota are being taken up.

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No state will lose a seat, Centre assures as delimitation debate takes centre stage in Parliament

Parliament’s special session begins with key focus on implementing women’s reservation and delimitation, setting the stage for major electoral changes.

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Parliament

A special session of Parliament commenced on Thursday, with the Centre set to take up crucial legislation related to women’s reservation and delimitation of constituencies. The session, scheduled over three days, is expected to witness intense debate as the government pushes forward its legislative agenda.

At the centre of discussions is the proposal to operationalise the women’s reservation law, which seeks to allocate 33 percent of seats in the Lok Sabha and state assemblies to women. The law, passed earlier, requires enabling provisions before it can be implemented.

The rollout of the reservation is closely tied to the delimitation exercise — a process that redraws parliamentary constituencies based on updated population data. The implementation is expected only after the next census and delimitation process are completed.

The government is aiming to put in place the framework so that the reservation can be enforced in future elections, likely around 2029.

Delimitation and numbers at play

Delimitation is a key aspect of the proposed changes, as it will determine how seats are redistributed and which constituencies are reserved. The exercise is expected to reflect population shifts and may also involve an increase in the total number of Lok Sabha seats.

This linkage has made the issue politically sensitive, with several opposition parties backing women’s reservation in principle but raising concerns over how and when delimitation will be carried out.

Political reactions and expected debate

The session is likely to see sharp exchanges between the government and opposition. While there is broad agreement on increasing women’s representation, disagreements remain over the timing, process, and potential political implications of the delimitation exercise.

Some leaders have argued that delimitation could significantly alter the balance of representation among states, making it a contentious issue beyond the women’s quota itself.

The government, however, has framed the move as a step toward strengthening women’s participation in governance and ensuring more inclusive policymaking.

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