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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.

India News

CBSE denies OSM portal data breach, terms online allegations misleading

CBSE has strongly dismissed social media allegations of a security breach in its On-Screen Marking (OSM) portal, clarifying that the exposed URL is a mere testing site containing no actual student data or exam marks.

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CBSE

The Central Board of Secondary Education (CBSE) has refuted viral claims circulating on social media regarding a security breach in its On-Screen Marking (OSM) portal. In an official statement, the national education board dismissed the allegations, labeling them completely false and highly misleading.

The clarification comes after social media posts suggested that sensitive student records and internal assessment systems had been compromised by unauthorised actors. Media reports indicate that the board has categorically denied any leak of actual student marks or examination-related details.

Testing site hosted no real student details

According to the statement released by the board, the web address highlighted in the viral allegations belongs strictly to a testing environment. The board clarified that this URL is utilized purely for internal evaluations, data sampling, and platform reviews during development phases.

The board firmly reiterated that no live student details, official scoreboards, or active examination data are stored on this testing site. Authorities have advised stakeholders and students to refrain from panic and avoid circulating unverified rumors that challenge the integrity of the examination system.

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India News

Congress Dismisses Karnataka Leadership Transition Rumors After Six-Hour Delhi Meet

The Congress party has rejected ongoing rumors regarding a leadership change or a rotating Chief Minister formula in Karnataka, stating that a recent six-hour meeting in Delhi focused strictly on the upcoming Rajya Sabha and MLC elections.

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The Congress party has strongly downplayed the intense political buzz surrounding a potential leadership transition or a change in the Chief Minister’s post in Karnataka. Following a marathon six-hour meeting with the state’s top leadership in New Delhi, the party explicitly rejected the ongoing speculation, labeling it as having “no reality.”

A brief statement issued to the media after the high-level meeting advised against spreading rumors, clarifying that the discussions were entirely centered on upcoming electoral strategies rather than structural changes within the state government. The party stated that the deliberations solely revolved around the state’s three vacant Rajya Sabha seats and the upcoming Member of Legislative Council (MLC) elections.

Rajya Sabha and MLC Polls Take Center Stage

The high-stakes meeting was attended by Congress President Mallikarjun Kharge, senior leader Rahul Gandhi, and party General Secretary KC Venugopal, alongside Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar.

Briefing the media post-meeting, KC Venugopal stated that conversations were strictly confined to the Rajya Sabha and MLC elections, emphasizing that there is no truth to any other political speculation. Chief Minister Siddaramaiah also confirmed that the agenda of a potential cabinet expansion or a leadership shift did not come up during the six-hour-long discussion.

Background of the Power Struggle

The question of leadership in Karnataka has remained a recurring theme for over a year. Supporters of Deputy Chief Minister DK Shivakumar have consistently maintained that the central leadership promised a rotating Chief Ministership arrangement when the government was formed after the 2023 assembly elections.

Speculation had intensified recently as the ruling government faced local anti-incumbency pressures alongside renewed political activity from the opposition bench. Some internal reports had even indicated a push from within certain sections of the high command, including Priyanka Gandhi Vadra, for a leadership revamp.

Balancing Caste Equations and Party Structure

The central leadership has navigated the situation cautiously to maintain political stability. Chief Minister Siddaramaiah, 80, commands a powerful “Ahinda” support base—a coalition comprising minority communities, backward classes, and Dalits. This social alliance was crucial in helping the party navigate the traditional Vokkaliga and Lingayat caste dynamics during the 2023 elections.

Although the rotation issue had previously gained significant momentum when the government completed two years in office, the party high command had chosen to maintain the status quo to avoid any adverse electoral impact in neighboring assembly elections, such as in Tamil Nadu. With those elections concluded, supporters of the 64-year-old Deputy Chief Minister had expressed optimism for a transition. Shivakumar currently holds the dual responsibility of being the Deputy Chief Minister as well as the state Congress chief, signaling his critical organizational value to the party. However, for the time being, the party high command has firmly signaled that the current leadership structure will remain unchanged.

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Cricket news

Bowlers may hold the key in high-stakes IPL 2026 Qualifier 1 at Dharamsala

Although the media build-up centers on the batting heavyweight clash between Virat Kohli and Shubman Gill, the IPL 2026 Qualifier 1 in Dharamsala is set to be decided by the bowling consistency of Bhuvneshwar Kumar and Mohammed Siraj.

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Flat pitches, towering sixes, and relentless run-scoring have defined the Indian Premier League (IPL) 2026 so far. However, when Gujarat Titans (GT) and Royal Challengers Bengaluru (RCB) lock horns in Qualifier 1 at the Himachal Pradesh Cricket Association (HPCA) Stadium in Dharamsala, the contest could ultimately hinge on the bowlers.

The HPCA Stadium has proved to be unforgiving for bowlers due to its short boundaries. A teaser of what could unfold was evident during recent net sessions, where Gujarat Titans’ Jos Buttler and Royal Challengers Bengaluru’s Tim David regularly launched monstrous hits out of the stadium. In the three matches played at this venue this season, teams crossed the 200-run mark five times, with the lowest score being 199/8. An average of nearly 25 maximums per match has been hit here, promising another potential run-fest.

Moving past the Kohli vs Gill narrative

While media attention focuses on the iconic battle between the ‘King’ Virat Kohli and the ‘Prince’ Shubman Gill—hailed as the heir to Indian cricket’s batting legacy—the true deciding factor might lie elsewhere. Both batters look in pristine touch. Gill occupies the second spot in the Orange Cap race with 616 runs from 13 matches, trailing behind his opening partner Sai Sudharsan. Meanwhile, Kohli has bounced back from a brief mid-tournament slump by smashing a sparkling century, taking his tally to 557 runs this season.

Despite the incredible batting firepower on display, the bowling units are expected to dictate which team blinks last. Media interactions with team managements highlighted that consistency and self-belief within the respective bowling departments have been the defining traits of both squads this season.

Powerplay battles to decide the finalist

For RCB, veteran pacer Bhuvneshwar Kumar leads the charge alongside Kagiso Rabada for GT, with both spearheads locked as the joint-highest wicket-takers across the two sides at 24 wickets each. Bhuvneshwar holds a slight edge due to a superior economy rate. Close behind them is GT’s Mohammed Siraj, who has taken 17 wickets so far. With supporting acts like Josh Hazlewood, Jason Holder, Prasidh Krishna, Rasikh Salam Dar, and spinners Rashid Khan and Krunal Pandya in the mix, the match promises an intriguing tactical battle.

Gujarat Titans’ assistant coach Vijay Dahiya acknowledged that negotiating Bhuvneshwar Kumar in the powerplay will be a massive task, but reminded that GT possesses equal firepower in Siraj and Rabada. “If you talk about the powerplay, our numbers are among the best in this tournament,” Dahiya stated.

RCB captain Rajat Patidar echoed similar views, placing immense faith in his bowling attack to stop GT’s prolific opening duo of Gill and Sudharsan. “Our strength is bowling. The way we bowl in the powerplay will be very crucial. We’ll look for early wickets and that is what we have done throughout the tournament,” Patidar remarked.

In a tournament dominated by towering batting displays, the team whose bowling unit holds its nerve under the Dharamsala lights will seal a direct spot in the IPL final.

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