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Undermining RBI will be disastrous: Employees Union

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Kolkata, Oct 29 (IANS) Days after RBI Deputy Governor Viral Acharya spoke on the need for the central bank’s autonomy, the RBI Employees Association on Monday came out in his support by stating that “undermining the country’s central bank is a recipe for disaster”.

“We firmly hold that undermining the country’s central bank is a recipe for disaster and the government must desist,” The All India Reserve Bank Employees Association (AIRBEA) said in a statement.

“Let the two (Centre and RBI) talk and sort out issues instead of the government trying to ride roughshod over the RBI, what they are trying at the expense of the nation,” it said.

Acharya’s observations on October 26 about apparent government interferences had created a flutter. Acharya had warned that the market could make the government pay for eroding the bank’s independence.

He said markets keenly watch the government’s activities, which exert pressure on the central bank’s independent functioning.

“This (Acharya’s warning) is not a sudden outburst, but was waiting to happen due to a long simmering discontent,” AIRBEA General Secretary Samir Ghosh said in the statement.

Acharya had compared the approaches of the two – RBI and government – in a cricketing analogy with T-20, which is a short term game, and Test Match, which is long term.

The government, with a short tenure from election to election, is prone to putting pressure on the RBI to fall in line with its expediency, which the RBI from a long-term perspective might not and would not agree, Acharya had said.

“There is an intrinsic schism and this is not regime-specific,” Ghosh said, reminding how former RBI Governor D. Subbarao in his parting speech had said the then Finance Minister P. Chidambaram had been so angry that he preferred to “walk alone without RBI”.

The association said the divide between the two has widened due to the continuous ‘nibbling’ by the government and the Ministry of Finance.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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