Lagatar24 Desk
New Delhi, Oct 17: In response to a request for an investigation into the involvement of RBI officials in numerous banking and financial scandals made by BJP leader Subramanian Swamy and attorney Satya Sabharwal, the Supreme Court on Monday served notice to the CBI and the Reserve Bank of India (RBI).
Justices BR Gavai and BV Nagarathna’s bench announced that it would investigate the matter.
We will consider. Issue notice,” the Court said.
Supreme Court issues notice to Reserve Bank of India (RBI) and Central Bureau of Investigation (CBI) on a plea filed by BJP member Subramanian Swamy seeking a CBI probe into the alleged role of RBI's nominee director in bank loan fraud cases.
— ANI (@ANI) October 17, 2022
According to the argument put forth by Swamy and attorney Satya Sabharwal, despite enjoying widespread success, the RBI failed to safeguard the interests of different stakeholders, including depositors, investors, and shareholders, as evidenced by the volume and cost of banking frauds that were discovered by the RBI and other agencies over the past couple of years.
The plea claimed that this has caused people to lose faith in India’s entire banking sector.
“The regulator (RBI) is being supinely indifferent to the series of bank frauds with questions now being raised about it,” the petitioner contended.
