RBI employees' union demands removal of RSS ideologue & 'Thuglak' editor Gurumurthy from RBI board

All India Reserve Bank Employees Association (AIRBEA) – one of the oldest trade unions of the country, has demanded removal of pro-RSS right-wing ideologue S Gurumurthy from the RBI board

File photo of S. Gurumurthy
File photo of S. Gurumurthy
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NH Political Bureau

All India Reserve Bank Employees Association (AIRBEA) – one of the oldest trade unions of the country, has demanded removal of pro-RSS right-wing ideologue S Gurumurthy from the RBI board.

Swaminathan Gurumurthy is also editor of a magazine called 'Thuglak'. Published in Tamil, the weekly magazine is known for publishing hard-hitting cartoons and satirical pieces on current socio-political issues.

Gurumurthy was inducted in the RBI board by the Modi government under section 8 of the RBI act 1934.

Alleging that Gurumurthy insulted the public sector bank employees and their contribution in nation building, the AIREBA in a letter sent to the finance minister, Nirmala Sitharaman has demanded that appropriate action must be taken against Gurumurthy for his comments.

AIREBA said that Gurumurthy has insulted the PSBs which played a very important role in strengthening and saving the Indian economy.

The AIREBA alleged that RSS supporter Gurumurthy has, on May 8, called the public sector banks “scums/filth”.

During the 52nd anniversary celebration of the Thuglak magazine, responding to a reader's query, Gurumurthy referred to public sector bank employees as ‘Kazhisadai’ (Tamil word roughly translated as 'filth/scum). He reportedly made this comment in the presence of the finance minister Nirmala Sitharaman.

Expressing shock and dismay at Gurumurthy’s comment the AIREBA said, “This is utmost shocking, repugnant and reprehensible, which along with the bank employees of the country, we, Reserve Bank Employees deplore unambiguously.”


Highlighting selfless service of the public sector bank employees during the Coronavirus pandemic, the AIREBA, in its letter has referred to the encomia paid by the finance minister to bank employees.

The AIREBA has also said that Gurumurthy has proved himself unworthy for such a high post.

Interestingly, Gurumurthy who is considered the brain behind economic policies adopted by the saffron party said that being in the RBI board is not a big thing.

Gurumurthy said, “I was pressured to take up that position as there were not many to put a counter view in the RBI Board. I did not need it nor did I seek it. For decades I had never taken any position in or from the government. Nor will I ever. Me, in the RBI Board was criticized by the financial media in the West, and I am happy you a communist , share their views now.”

“For your information I have never allowed anyone in any public fora to include in the intro about me, that I am on RBI Board. You have expressed grave concern about me being on the RBI Board. You may not know that if I am not on the RBI board, it makes very little difference to me,” added Gurumurthy.

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