RBI’s Reserve Fund Transfer & Banks Mergers: A loot or boost?
In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks Mergers: A Loot or Boost?’ was organised by Financial Accountability Network India, a collective of civil society organisations, unions, people’s movements, students, teachers and concerned citizens to highlight the issues of accountability and transparency of the national financial institutions.