BJP leader and Rajya Sabha member Subramanian Swamy has approached the Supreme Court against the alleged irregularities made by Reserve Bank of India (RBI) officials. Subramanian Swamy has demanded a CBI inquiry from the Supreme Court in this case. The BJP MP alleges that various banking / financial scams have occurred in India as a result of alleged illegalities committed by Reserve Bank of India (RBI) officials.
Subramanian Swamy and advocate Satya Sabharwal alleged that the scams have caused great damage to India’s economy and RBI officials have been in serious violation of activism and their statutory duties.
Due to which these scams have not been stopped. Over the years, various banks have reported scams after scams. In which the role of bank officials was clearly revealed, but surprisingly not a single RBI official was able to take any action in this matter.
Subramaniam Swamy, in his plea, alleged that RBI had failed to protect the interests of various stakeholders including depositors, investors and shareholders and this has led to loss of confidence in India’s banking system.
At the same time, the regulator’s indifference to the chain of bank fraud makes it question. Swamy and Sabharwal have argued that the Banking Regulation Act scheme makes RBI more responsible for bank management in the case of public sector banks.