While SJM includes a member of the board of directors of the Reserve Bank of India, Swaminathan Gurumurthy, among its co creators, observers state it’s unlikely to have much impact over federal government policy. Even though it is thought about the financial arm of Rashtriya Swayamsevak Sangh (RSS), a nationalist group that provides the ideological support for the ruling celebration, the BJP, it influence over the RSS might be overestimated by some observers, political analysts said.
