As RBI completes 87 years, a look at contributions of Dr. Ambedkar on conceptualizing RBI
New Delhi: As the Reserve Bank of India completes 87 years on April 1, 2022, we look at the role of Dr. BR Ambedkar in establishing the RBI.
The Reserve Bank of India was conceptualized according to the guidelines, working style, and outlook presented by Dr. Ambedkar in front of the Hilton Young Commission (also known as the Royal Commission on Indian Currency and Finance).
When this commission came to India under the name of “Royal Commission on Indian Currency and Finance”, each and every member of this commission was holding Dr. Ambedkar’s book named “The Problem of the Rupee – Its origin and its solution.”
Hilton Young Commission submitted its report in 1926 and it was on the recommendations of the report that RBI was established. Reserve Bank of India (RBI) came into the picture on 1st April 1935. Dr. Babasaheb Ambedkar had submitted a statement of evidence to the commission and one can find clear authority and evidence of Babasaheb’s expertise on the matter in the statement submitted.
The RBI, however, is often blamed for neglecting the contributions of Dr. Ambedkar and not mentioning the same on RBI Foundation day or on any other occasion.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Illegally stored gas cylinders seized
Thane (PTI): Authorities have seized illegally stored 1,839 gas cylinders and seven vehicles worth over Rs 67 lakh in the Dombivli MIDC area of Thane district, officials said on Saturday.
A special vigilance team of the Mumbai Rationing Department detected an illegal storage of domestic and commercial LPG cylinders in Phase-2 of Dombivli (East).
Cylinders belonging to multiple gas agencies were found stockpiled in closed vehicles, unauthorised warehouses, and open sheds without mandatory permissions from the Explosives Department, Fire Department, or oil companies, according to an official release.
