JAIRAM RAMESH SAID ON THE ADANI CASE - THERE MAY BE AN IMPACT ON THE BANKING SYSTEM, LETTER WRITTEN TO RBI, SEBI

Jairam Ramesh in a letter to RBI Governor Shaktikanta Das , has demanded that RBI investigate the excessive loans given to the Adani group and it's impact on the Indian banking system.

'Banking system can be affected' Jairam Ramesh has posted this letter on social media. In which he has written that Adani group is being said to have excessive debt.

If the Adani group has artificially inflated the prices of its shares with the help of offshore shell companies and has raised funds by pledging these overpriced shares , then it may pose a problem for the Adani group to raise further funds.

In such a situation, it can also have an impact on the Indian banking system. Raised demand for investigation Jairam Ramesh has demanded the Reserve Bank to investigate the matter.

Along with this , it is also written that whether any guarantee has been given to the Adani group that if foreign funding is not received, then Indian Banks will not be forced to give bailout packages to them! Jairam Ramesh has also questioned the unusual generosity shown by LIC and SBI towards the Adani group.

The Congress leader wrote that being the Central Bank , the Reserve Bank should do everything possible to save to the Indian banking system.

We appeal that in the interest of the country, it should be ensured that the taxpayers of the country do not have to pay the price of irregularities and bad administration of any business group.