RBI director Satish Kashinath Marathe raised serious questions on the government’s relief package, calls it a total failure

Satish Kashinath Marathe, an RBI director and associated with the Rashtriya Swayamsevak Sangh, said that a three-month moratorium is not enough and softening in the NPA should have been part of the relief package. He also said that the government’s relief package is unlikely to increase demand, because there is an emphasis on the supply side.

Satish Kashinath Marathe, a director of the Reserve Bank of India (RBI) and associated with the Rashtriya Swayamsevak Sangh, has raised questions on the Modi government’s relief package to deal with Corona. He said that the three-month mo rhetorium is not enough and softening in the NPA should have been part of the relief package.

In which case is it failed?

He tweeted, ‘Relief package is good and progressive thinking, but it has failed in the matter of including banks as advance warriors in reviving the economy. Three months moratorium is not enough. NPA, softening in provisioning etc. should have been part of the relief package so that India can be taken on the path of progress once again.

He also said that the government’s relief package is unlikely to increase demand, because there is an emphasis on the supply side.

Marathas have been associated with this organization of RSS

Marathe started his banking career with Bank of India. He was also the Chairman and CEO of The United Western Bank from 2002 to 2006 and earlier CEO of Jan Kalyan Sahakari Bank Limited from 1991 to 2001. He is a founding member of Sahakar Bharti, an NGO working in the cooperative sector. It is actually a voluntary organization associated with the Rashtriya Swayamsevak Sangh.

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PM Modi announced

Significantly, PM Narendra Modi had announced last week that a relief package of Rs 20 lakh crore will be given to save the countrymen and economy affected by Corona. After this, Finance Minister Nirmala Sitharaman made several announcements in a press conference for five consecutive days, in which there was a proposal to give a loan of Rs 3 lakh crore to MSMEs.