Saturday, October 25, 2025
It's all government.
Assistant General Manager, Sarthak Gulati, of the Reserve Bank of India's (RBI) Monetary Policy Department has accused the State Bank of India's (SBI) Ecowrap report of plagiarism. He accused SBI Ecowrap of "verbatim replication of RBI's Monetary Policy Reports", which the SBI Research team, led by Chief Economic Advisor Soumya Kanti Ghosh called "sad and sensationalized".TN. We may be excused for finding this intellectual dispute somewhat amusing because both the RBI and SBI are fully owned by the government. "Although originally privately owned, since nationalisation in 1949, the Reserve Bank of India is fully owned by the Government of India." rbi.org.in. SBI is a public sector bank, which means that the government has a controlling share of 55.50%, making it a government bank. wikipedia. In addition, the RBI is the regulator of the SBI. "The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks. These powers are exercised through onsite inspection and off site surveillance." rbi.org.in. Since the RBI's observations become a directive for all commercial banks, how can it be wrong for the SBI to quote them? It may be a case of the right hand and left hand (Dictionary) of the government not being in harmony or it may be a subliminal message (vocabulary.com) to the uninitiated that both banks work independently of each other and the government to provide in depth, detailed research reports into the economy in the service of the nation. The present Governor of the RBI Sanjay Malhotra is a serving officer of the Indian Administrative Service (IAS) since 1990 (wikipedia) and he succeeded a retired IAS officer Shaktikanta Das who was Governor from December 2018 to December 2024 and is now the Principal Secretary to the Prime Minister of India (wikipedia). The present Chairman of the SBI Challa Sreenivasulu Setty has spent his entire career in the bank since 1988. wikipedia. Meanwhile, "Life Insurance Corporation of India (LIC)...denied reports by The Washington Post that alleged Indian officials crafted and pushed through a proposal in May to steer roughly $3.9 billion in investments from the state-owned insurer to Adani Group companies. LIC called the claims 'false'." ET. The government owns 96.5% of LIC. wikipedia. The Congress alleged that SBI invested Rs 5.25 billion in 2023 and now LIC has invested Rs 330 billion in the Adani Group because of the friendship between Mr Modi and Mr Gautam Adani which makes it a "Modani Mega Scam". DH. Last week, "The Indian government has reportedly reduced the number of officials who can order content to be taken down from the internet." TOI. Till now any jobsworth flunkey could order takedown of any post he didn't like. Sadly, even the senior-most official can't take down an article in The Washington Post. That's how we find out. From pesky furriners.
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