RBI is the protector of Indian economy: CM Bommai

Bengaluru (Karnataka) [India], November 28 : The Reserve Bank of India is the protector of the Indian economy, said Karnataka Chief Minister Basavaraj Bommai on Monday.
Speaking after inaugurating the Constitution Day, organised by RBI SC/ST Employees Association here on Monday, he said RBI has a rich history and it has been controlling the country's banking system from the pre-Independence period, as well as the nation's economy.
"I was happy to note that this organisation is celebrating Constitution Day. The soul of democracy is the 'Constitution' and it has been protecting democracy. With so much population and varied cultures and languages, the Constitution has held the people and united people in a democratic setup. It is indeed a miracle in the present situation," the Chief Minister said.
Speeded up economy
The Chief Minister said there were some economic results, and an action plan and target are a must to achieve the results.
"A lot of challenges are in the banking sector but they (banks) have been successful in balancing the economy. India has been one of the nations whose economy has recovered post-Covid-19 pandemic," the Chief Minister said. Prime Minister Narendra Modi has implemented several schemes and speeded up the economy. Besides, the PM has taken important steps to respond to people's aspirations.
The economy plays an important role to ensure social justice
The CM said RBI plays an important role to ensure social justice through the economy. "Understanding this, Dr BR Ambedkar, the architect of the Constitution, started the RBI for the fulfilment of this aspiration. They must strive hard to make India occupy the top slot in the next 25 years," the Chief Minister said.
The RBI is doing wonderful work with a clear aim, ideology, and law as per the Constitution and this has helped India to grow as a strong economy, according to Bommai. He said this has become possible through the Constitution.
"There will be truth and values of executive and judiciary work as per the Constitution which is one of the best books as all the principles from all the countries are included in the Indian Constitution in order to make it the best," he said, adding that the Constitution ensures equality and this has helped independent India to become a strong nation. "Following the Constitution is the real way of paying tributes to Dr Ambedkar."
He said even as the life of Ambedkar was painful, he strove hard to do justice for his community and to ensure social justice. Dr Ambedkar allowed for making amendments to the Constitution, according to the changing times and this has been identified as one of the most amended Constitutions in the world.
RBI Regional Director Gurumurthy, SC/ST Employees Association President Madhav Kale and Secretary Vasanthkumar and others officials were present at the event.