Govt, RBI should have continuous dialogue to address problems affecting economy: Venkaiah Naidu
New Delhi, Nov 27 : In apparent reference to the recent spat between the government and the Reserve Bank, Vice President M Venkaiah Naidu Tuesday said there should be a regular dialogue between the two in the boardroom to arrive at solutions to address problems affecting economy.
Referring to the issue of liquidity crunch, Naidu said the problem was because few "black sheep" who have taken the system for ride, affecting the entire industry.
"All of us have to introspect. Politicians... and the industry. A few people.. have taken the system for a ride and banks lent money left and right...
"RBI was not doing things at that time and now they have tightened everything, so there are there are problems...," he said.
Naidu said these problems have to analysed and understood. The Reserve Bank of India (RBI) and the government of India must have a regular continuous dialogue.
"There is no question of who is powerful or who is final. Final are the people and their interest. All these systems are created to facilitate people's welfare.
"So they should have to have a dialogue within their boardroom rather than discussions through media and then come to some solutions addressing the actual problems," he said while addressing the diamond jubilee celebrations of the Confederation of Indian Textile Industry (CITI) here.
Amid growing tensions with the central bank, the Finance Ministry had earlier sought discussions under the never-used-before Section 7 of the RBI Act which empowers the government to issue directions to the RBI Governor.
RBI Deputy Governor Viral Acharya had in a speech last month talked about the independence of the central bank, arguing that any compromise could be "potentially catastrophic" for the economy.
On November 19, the RBI board had held a marathon meeting amid a rift between the central bank and the government over several issues including how much capital the apex bank needs, lending norms for small and medium enterprises and rules for weak banks.
Following the meeting, the RBI and the government agreed to refer to an expert committee the contentious issue of appropriate size of reserves that the RBI must hold, while restructuring of stressed loans of small businesses would be considered by the central bank.
Vice-President Naidu further said India was the most favoured destination for investment and global organisations like World Bank and World Economic Forum, which are of the view that if the country continues with its reform process, it will become the third-largest economy in the world.
He also called upon the textiles industry, which contributes more than 3 per cent to the GDP, to adopt new innovative technology in line with the demands of 4th industrial revolution.
Addressing the gathering, Textiles Minister Smriti Zubin Irani said the government was committed for the growth of the textile industry.
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Madhu Kishwar booked over alleged misleading content on social media
Chandigarh (PTI): Academician Madhu Kishwar has been booked on charges of criminal defamation, promoting enmity and other offences by Chandigarh police following a complaint by a resident alleging circulation of forged and misleading content on social media.
A Chandigarh police team on Tuesday served notice to Kishwar in Delhi, asking her to join the investigation in the case.
Sarita Roy, the Station House Officer of Sector-19 police station in Chandigarh, where the FIR was filed, told reporters in the national capital that the notice was issued under Section 35(3) of the BNSS and that Kishwar has been asked to appear and present her side.
Kishwar and some other social media users have been booked under various sections of Bharatiya Nyaya Sanhita, including 196 (criminalises acts that promote enmity, hatred, or ill-will between groups based on religion, race, language), 336 (1) (forgery) and 356 (criminal defamation), and the IT Act, according to the FIR.
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They have also been charged under Section 353 (penalises making, publishing, or circulating false information that cause public mischief...) and those related to cheating and forgery under the BNS.
According to a statement by the Chandigarh police, a city-based complainant on April 19 alleged that some forged and misleading social media posts and video clips with obscene text and content were being circulated by various social media users, misidentifying the person in the video.
The complainant alleged that it is a deliberate act of creating a false electronic record using obscene words and phrases, having knowledge and sufficient reason to believe that the posts are misleading and false, with the intent to cause damage or injury.
The video, which circulated with the intent to cause harm to the reputation of a constitutional authority and to disturb public peace and tranquillity, should be investigated, and appropriate action should be taken, the complainant said.
The complainant said the person seen in the video is a travel vlogger whose wife regularly posts updates about their activities on social media. The original video was shared from her social media account.
"As per the statement of the woman, she disclosed that the person in the video shared from her account is her husband. Statements of her husband and another lady in the video have also been recorded during preliminary investigation," said the police statement, adding that further probe is underway.
Meanwhile, Kishwar, in a social media post, said that a Chandigarh police team had visited her late Monday night to serve her notice regarding the FIR registered against her.
"Since the law forbids the police to visit or arrest women after dark and before sunrise, I spoke on phone to the leader of the delegation. She told me that their team has come to serve notice regarding an FIR registered against me in Chandigarh. I insisted that they go by the law and come in the morning," she wrote on X.
