Supreme Court
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The Supreme Court has issued notices to the Reserve Bank of India (RBI) and the Central Bureau of Investigation (CBI) in a case filed by BJP leader Subramanian Swamy. Subramanian Swamy had filed a petition in the Supreme Court seeking a CBI probe into the alleged role of RBI’s designated director in bank loan fraud cases.
Senior BJP leader Subramanian Swamy has filed a petition before the Supreme Court seeking a high-level inquiry against Reserve Bank of India (RBI) officials for their alleged involvement in bank scams. He had demanded a probe by the Central Bureau of Investigation (CBI) or any other competent authority.
The PIL, filed through advocate MR Venkatesh and advocate Satyapal Sabharwal last year, said that several cases of bank frauds have come to the fore in the last few years, but for failing to detect any scams by any RBI official. not held responsible.
A bench of Justices BR Gavai and BV Nagarathna issued notices to the Central Bureau of Investigation and the Reserve Bank of India seeking their response on Swamy’s plea. The bench said, ‘We will consider. Issue notice.’
“These scams have taken place due to the active connivance of the officials of RBI, who have failed to stop these scams with adequate powers under various laws,” Swamy said in the petition. The senior BJP leader has alleged in his petition that the involvement of RBI officials in scams involving various entities like Kingfisher, Bank of Maharashtra and Yes Bank was not probed.
The petition also alleged that the RBI officials acted in direct active connivance in direct violation of laws including the Reserve Bank of India Act, the Banking Regulation Act and the State Bank of India Act.