The Indian Express Monday reported that the government had decided to not interfere in the functioning of ICICI. (Reuters/File)
The Congress Monday hit out at the BJP government over its decision to not interfere in the functioning of ICICI Bank, which is facing allegations of conflict of interest and code-of-conduct violations by its Managing Director and CEO Chanda Kochhar. It said the government, instead of protecting depositors, stakeholders and shareholders, was 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 as in March this year? What explains the complete silence and the declared ‘non-interference’ of the Modi government in the saga of ICICI bank fraud? Instead of oversight, audit, regulations and protection of interests of depositors, stakeholders and shareholders, Modi government is busy protecting its crony friends,” Congress spokesperson Pawan Khera said.
The Indian Express Monday reported that the government had decided to not interfere in the functioning of ICICI.
Khera said the rules and law apply to both private and public sector banks. “The government cannot just shrug its shoulders and say that we are not responsible,” he said.