Cong: People are worried about safety of their money in bank

The Congress on Saturday said India’s biggest “bank scam” has exposed the “culture of crony capitalism” that has thrived and flourished under the watch of the Modi government and repeated frauds under its watch have given rise to grave concern among the people regarding security of their money in banks.

In a 2-page resolution adopted in the steering committee called to finalise the AICC plenary session, the party said the PNB scam is not the only bank scam. Nearly Rs 6,000 crore Bank of Baroda fraud was a case in point, it said. It asked Prime Minister Modi to apprise the nation of complete facts about the biggest “Bank Scam'” instead of remaining as usual silent. “It must be brought out how the entire banking system was duped through ''Letters of Undertaking'' under the watch of Modi Government and why all authorities, including Finance Ministry, FIU, SFIO, ED, CBI and others were found wanting in preventing the loss?”

It taunted that over the last 45 months, the Modi government has taken “zero action” against accused in multiple corruption scams that have been exposed so much so that “Zero Tolerance for Corruption'' has become ''Zero Tolerance for Accountability on Corruption”. "What is worse, the swindlers of public funds have left India freely with the BJP Government and its agencies acting as silent bystanders. The great escape of Lalit Modi, Vijay Mallya, Nirav Modi, Mehul Choksi and dozens of others accused of banking and other frauds are irrefutable examples of complicity at the highest echelons of power,” the resolution said.

The resolution said the PM must tell the nation how a fraud of this magnitude escaped the eyes of all the auditors and investigators conducting “statutory audit”, “'internal audit”, “'concurrent audit” and even the RBI’s own audit?