Big Business Strikes Again, this Time Through the Modi Government's Assault on the RBI

The Wire reports:
The unprecedented invocation of Section 7 is not in enlightened public interest - it is a brazen move to force the RBI to open bank funding to desperate corporates. The business cronies of this government have done it again. And they manage such coups each time with unfailing precision. This time, the Centre has taken the unprecedented action of sending a direction to Reserve Bank of India (RBI) under Section 7 of the RBI Act, the first step in a process of virtually issuing a diktat that the central bank must do whatever is necessary to resolve the potential credit freeze in the non-banking finance sector and relax norms for lending to small business.
Continue reading... |  Where is the full article?

LUV

SAD

WOW

MEH

GRR

HUH

LOL

0

0

0

0

0

0

0

This story is trending. Share it.