Union Bank ordered to buy a book of ₹ 7.25 crore
The country’s major government bank ‘Union Bank of India’ has been engulfed in controversies due to a book. Because the bank has spent about 7.25 crore rupees on buying 2 lakh copies of this book. The big thing is that the book has not been published yet and this is written by former Chief Economic Advisor Krishnamurthy V. Subramanian.
The bank wanted to divide this book into its customers, schools, colleges and library. But now this book has become difficult for the bank. According to media reports, the Central Office of the bank ordered 1,89,450 paperbacks and 10,422 hardcover copies of the book called Envisioning Tomorrows Economic Powerhouse. The price of a paperback book was Rs 350 and the price of hardcover was Rs 597.
English language books are very rarely sold
In India, English language books are sold very rarely. If we leave some of the best selling writers, then the book selling more than 10 thousand copies is considered the bestseller. Let me tell you, before the book was published in August 2024, Rupa Publication was given 50 percent amount in advance. The remaining amount was to be paid from the bank’s Missalanius Revenue Budget.
Was assumed in IMF in November 2022
Subramanian took over the IMF in November 2022 and was representing India, Bangladesh, Sri Lanka and Bhutan. However, Subramanian’s tenure as the executive director of IMF had 6 months left, but the Indian government removed him with immediate effect.
On this, the IMF has confirmed that it was the decision of the Government of India to remove Subramanian. According to media reports, now the union of bank employees has written a letter to Manimekhalai demanding to investigate the matter. Bank Employees Association General Secretary N. Shankar said in his letter that it is also the responsibility of the bank to find out who had the mind behind spending such a huge amount on the promotion of Subramanian’s book wrongly and who participated in it.