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Why did RBI and HDFC receive 11 bomb threats across Mumbai?

RBI received a bomb threat demanding the resignation of RBI’s governor and union Finance Minister Nirmala Sitharaman on Tuesday in Mumbai. The threat involves two private sector banks, HDFC House in Churchgate and ICICI Bank Towers in Bandra-Kurla Complex. It warned of explosions at these sites by 1:30 pm.

A case has been registered for the same. “We can’t disclose any sensitive information, it is confidential and investigation is underway,” told Mata Ramabai Ambedkar Marg police to True to Life upon enquiring on Wednesday.

It is being said that they have planted bombs at eleven different places and the police have investigated but found nothing. The threat was sent from the email and alleged a huge financial scam that involved top banking officials and ministers. As per the Economic Times, “We have planted 11 bombs in different locations of Mumbai RBI along with private sector banks have executed the biggest scam in the history of India,” the email read. In addition to demanding the immediate resignation of the RBI Governor and the Finance Minister, the sender demanded the release of a press statement disclosing the scam. The sources revealed that the threatening e-mail was sent from a server located in Gujarat. In the latest turn of events, three men have been arrested from Gujarat by the Mumbai Crime Branch who allegedly sent the ‘bomb threat mail’, according to Times Now. The security alert is still important.

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Who can do this act, the opposition? Or the public? Are people not like the current hands who are running monetary authority? And if it is the matter, then what are the reasons behind this?

A statement from RBI’s official site says, “Life with the RBI is not just another career. It’s a commitment. Commitment to serve the nation, where your decisions make an impact on the way the economy and the financial sector in the country evolves”. If people have problems regarding their work they can morally come up with this by demanding it as their right. But threatening them with a bomb blast is fishy. It may happen that someone ( maybe a terrorist, opposition, or simply say ill-wisher of the economy ) is trying to divert the attention from something very important that needs to be addressed. And yes, ignoring these threats is not an intelligent act at all.

The need of the hour is alertness. Now, when we are stepping into 2024, it’s time to announce a new budget in the month of February.

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It can be seen in the news that many people don’t like the work of the Finance Minister. They have complaints regarding the tax structure of the economy. They alleged that Nirmala Sitharaman intentionally increased the tax rates to do unjust with the poor. Fiscal dominance is often seen as the monetary policy is not fully free from the government’s hands. Fiscal and monetary policies go hand in hand.

When Nirmala Sitharaman stated, a few months ago that the rupee is not depreciating, it is the dollar that is appreciating in the foreign exchange market. People mocked her for this statement. She may be true in an economic sense.

Well, these were the punch headlines which was needed to bring light to discuss the reasons for a bomb threat was received by the government.

The consequences of this threat can be fluctuations in the money market.

Foreigners may lose their interest in the Indian market which can lead to a fall in the interest rate of the Indian market and the dollar inflow will suffer and can further lead to a balance of payment deficit. Besides this, the general public may lose trust in the government, and if they withdraw their money from the banks, the economy can face heavy inflation which will ruin it and can be the reason for multiple economic problems.

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The security of the bank employees should be the priority. But any news regarding the holiday of the banks is yet to come. People need to make proper reconciliation with the government in this scenario because a single wrong step taken can deteriorate the situation. On one hand, the government has been allegedly blamed for scamming the economy, on the other hand, the government also came up with many rules and acts to ensure the safeguarding of the general public like the Prevention of Money Laundering Act, 2002 so that criminals can be punished. Cooperative behavior with the system and the police will not only save time but also the lives of thousands as well.

On the other hand, The police have registered a case under sections 505A and 506(2) of the Indian Penal Code, dealing with statements causing fear or alarm and criminal intimidation.

Article by Anjali Singhal from Delhi reported for True To Life

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