Credible institutions are being murdered in broad daylight. The recent one is a surgical strike on RBI. Our country faces a financial emergency...

DMK president M.K. Stalin expressed profound alarm and indignation over the abrupt resignation of Reserve Bank of India (RBI) Governor Urjit Patel, characterizing the dramatic development as an unprecedented national financial emergency and a catastrophic surgical strike on India's central banking institution. Stalin stated that credible constitutional and statutory bodies were being ruthlessly destroyed in broad daylight by the Narendra Modi-led Union administration.

Stalin pointed out that Governor Patel was forced out of office because he refused to capitulate to unethical directives from the central government, which aggressively pressured the central bank to surrender its contingency reserves and dilute lending norms ahead of general elections. By attempting to strip the central bank of its statutory independence to finance pre-poll sops, the ruling Bharatiya Janata Party had triggered profound uncertainty in global markets and eroded public trust in India's macroeconomic management. Stalin noted that never before in independent India had a central bank governor resigned prematurely citing fundamental policy disagreements with the ruling political executive.

Stalin asserted that the DMK will join forces with national democratic parties to halt the authoritarian subversion of sovereign financial and regulatory institutions.