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AIBOC calls for Urjit Patel’s resignation

AIBOC demands Urjit Patel's resignation

New Delhi:  The All India Bank Officers Confederation (AIBOC) has called for the resignation of Reserve Bank of India governor Urjit Patel, in the wake of the “havoc” caused after government’s move to demonetise Rs 500 and Rs 1000 notes, reports said.

D Thomas Franco, senior vice-president of the AIBOC has been quoted that, “Without proper planning the present governor has utterly failed in his role by taking a crucial economic decision, which has brought havoc to the Nation’s economy.”

He also said that the RBI governor should take moral responsibility for the crisis and the death of people. Neither Prime Minister Narendra Modi nor Finance Minister Arun Jaitley were economists but the RBI has economists who are capable of taking the right decision on matters relating to economy and people’s lives, said Thomas.

Notably, With Prime Minister Narendra Modi’s doing away with Rs 500 and Rs 1000 notes huge impact on the working class, small and rural business in the short term has been seen.

In 1978, when Janata government decided to demonetise, then RBI governor IG Patel had advised against it, Thomas has pointed out.

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