SBI, LIC forced to invest to save Adani group: Gandhi

NEW DELHI, 1 Mar: Former Congress president Rahul Gandhi on Wednesday alleged that the State Bank of India (SBI) and the Life Insurance Corporation of India (LIC) were “forced” to make investments to save the Adani Group, which put people’s life savings in danger.
He sought to know who ordered the SBI and the LIC to invest in industrialist Gautam Adani’s group.
In a video, released under the series ‘Mitrakaal-2, Aapka paisa, Adani par lootaya (Your money handed over to Adani)’, Gandhi said that the SBI is the biggest bank in the country and asked whether the LIC and the SBI were ordered to save the Adani Group.
“Why did LIC invest so much in the risky Adani Group? When the veil from these things will be lifted, it will be known how much loss has been done to the country,” he said.
“You kept your hard-earned money and savings for the future of your family and children. The question is, who is putting your money at risk,” the former Congress chief asked.
Alleging that the LIC and the SBI were “forced” to invest to save the Adani Group, Gandhi said, “Do you want to jeopardise the future of your children? My question is to you people, why is your money being used to save the Adani Group?”
“Why hasn’t the private sector invested money in the Adani Group? Is it not the duty of the prime minister to ensure that public money invested in LIC is safe?” he asked.
The Congress leader asked, “Will the prime minister reveal the truth about the loss suffered by the LIC from 24 January, 2023, due to its investment in the Adani Group? What is the prime minister doing to address the concerns of retail investors investing in Adani Group?”
He claimed that the Adani Group has for long been facing allegations of money laundering, forgery and use of shell companies. “Who is behind these shell companies? Who ordered SBI and the LIC to save the Adani Group,” Gandhi asked.
The charges come after US-based finance company Hindenburg Research made several allegations against the Adani Group, including fraudulent transactions and manipulation of share prices. The Adani Group has termed these allegations false and said that it has followed all the laws and provisions. (PTI)