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Monday, October 2, 2023
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SC issues notice on Subramanian Swamy’s plea for probe into role of RBI officials in bank fraud case

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Supreme Court RBI CBI Subramanian Swamy
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The Supreme Court on Monday issued notice to the Reserve Bank of India (RBI) and CBI on a plea filed by senior BJP leader Subramanian Swamy seeking a CBI probe into the alleged role of RBI’s nominee directors in bank loan fraud cases.

A bench of Justices BR Gavai and BV Nagarathna sought a response from the RBI and Central Bureau of Investigation (CBI) saying, “We will consider. Issue notice.” The senior BJP leader in his plea stated that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been proven.

“Despite playing a key role in the bank’s allocation of funds to various projects, the Reserve Bank of India nominees have not been touched by the subsequent CBI enquiries that were carried out,” Swamy argued.

He added that there was no explanation for why RBI officials had not been investigated in a single case since 2000.

Swamy sought direction for an investigation by the CBI or any authority that the court decides to examine the role of the RBI and its officials in various banking or financial scams in the country involving public money, which adversely affect the rights of the citizens of this country.

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