Congress questions Modi govt’s silence on ICICI bank ‘fraud’


New Delhi, June 4: In view of latest allegations levelled by a whistleblower against ICICI Bank CEO Chanda Kochhar over fraud loans, the Congress on Monday questioned Modi government’s “silence” and “non-interference”, asking why it didn’t order a probe into the matter. 

Speaking to media, Congress spokesperson Pawan Khera said “Instead of oversight, audit, regulations and protection of interests of account holder’s depositors, stakeholders and shareholders, Modi government is busy protecting its crony friends,”

“Why did the government not order a thorough probe when the news reports and whistleblower’s letters to the Prime Minister emerged as early in March this year?

“What explains the complete silence and the declared non-interference of the Modi government in this saga of ICICI Bank frauds?” the Congress leader asked.

Khera also asked would acting Finance Minister Piyush Goyal, who himself has been accused of conflict of interest and impropriety, order an investigation asking every CEO of private lenders to declare their relationship with any loanee.

Noting that the government itself has admitted that bad loans of all banks have increased by 230 percent – from Rs 2,51,054 crore in March 2014 to Rs 8,31,141 crore in December last year, he said that lack of oversight and regulatory mechanisms have precipitated into massive bank loot scams worth Rs 61,036 crore and have eroded the trust of the common people in banks.

He further added “The Rs.2,849 crore exposure of the ICICI Bank and the behind the scenes murky deals questions the role of its CEO in one such saga of banking fraud”.


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