New Delhi:The Congress on Friday hit out at the Modi government over its policy of privatising banks and said the Reserve Bank of India's latest report has warned against the further reduction of public sector banks. Congress General Secretary, Communications, Jairam Ramesh accused the government of working arbitrarily and said it ignored the apex bank's warning even during demonetisation.
He wondered if the Centre wanted to reduce public sector banks to only one. "RBI warning! The number of public sector banks has already come down from 27 to 12. The government's plan is to reduce further, perhaps to merely one. "RBI says doing so is an invitation to disaster. But the Modi government always works arbitrarily. It did not listen to the RBI even on demonetisation," Ramesh said on Twitter.