As another bank fraud surfaces, Rahul Gandhi takes on PM Modi's 'Jan Dhan Loot Yojana'

NEW DELHI: As another case of massive bank loan default surfaced today, Congress president Rahul Gandhi took a dig at Prime Minister Narendra Modi and described the recent spate of financial frauds as the PM's "Jan Dhan Loot Yojana".

Keeping up the heat on the Modi government, Rahul alleged that diamond exporter Sabhya Seth had been allowed to fly the coop before he and his associates could be brought to book for defaulting on loans amounting to Rs 390 crore. "Jan Dhan Loot Yojana", a mockery of PM Modi's flagship scheme, is how the government is complicit in the looting of public money.

"Under Modi Ji's "Jan Dhan Loot Yojana", another scam! 390 crore, involving a Delhi based jeweller. Same Modus operandi as Nirav Modi. Fake LOU's. Predictably, like Mallya and Nirav, this promoter too has disappeared while the government looked the other way," the Gandhi scion tweeted.



After Nirav Modi and Mehul Choksi, the CBI registered a case against a Delhi-based diamond jewellery exporter Dwarka Das Seth International for an alleged fraud to the tune of Rs 389.85 crore. Acting on a complaint filed by the Oriental Bank of Commerce six months ago, the agency filed an FIR against Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh -- all directors of the firm -- and another company named Dwarka Das Seth SEZ Incorporation.

However, it is now being suspected that Sabhya Seth and other directors may have fled the country after they could not be traced at their residences for the last 10 months.

The Congress today demanded a thorough probe by the RBI into the alleged Rs 11,400-crore PNB scam and said the prime minister should fix accountability for the financial frauds plaguing the banking sector.

Taking a swipe at PM Modi's constant refrain during poll rallies that he would act as a watchman for the country, senior Congress leader sought to know why fraudsters like Nirav Modi were permitted to escape from the country.

"I am surprised that despite our prime minister being the most expensive 'chowkidar' (watchman), why are all these (banking frauds) happening under his nose," Sibal said at a press conference.

Yesterday, PM Modi finally broke his silence over the recent cases of bank fraud and warned of stringent action against those involved in financial irregularities.