Controversy Over Union Bank's Bulk Book Purchase

Union Bank of India faces scrutiny for purchasing 2 lakh copies of a book by former IMF Executive Director K V Subramanian. Allegations of misuse of public funds surface as the government terminates Subramanian's position prematurely. Congress raises concerns about propaganda and improper use of his official position.

State-owned Union Bank of India is under examination for potential procedural lapses related to a significant procurement order involving 2 lakh copies of a book authored by former IMF Executive Director K V Subramanian, valued at approximately Rs 7.25 crore.

The government's move to terminate Subramanian's services, effective April 30, six months before his term's end, has intensified debate, with political factions alleging this decision stems from alleged improprieties and the irresponsible use of public funds.

Contentions have arisen over allegations that Subramanian might have exerted undue influence on entities to purchase his publication, with Congress criticizing the procurement as unnecessary expenditure by public coffers aimed at political propaganda.