CPI demands probe into SBI-ADANI pact

November 22, 2014 01:40 am | Updated November 16, 2021 05:53 pm IST - CHENNAI:

The Communist Party of India (CPI), on Friday, demanded a probe by the Reserve Bank of India into a memorandum of understanding (MoU) signed by the State Bank of India (SBI) with the Adani group involving a $1-billion pact for investments in Australia.

Addressing reporters here, Rajya Sabha member D. Raja said the explanation given by the nationalised bank that only an MoU had been signed and the final decision would be taken after due diligence was a mere technicality. The very fact that an MoU was in place was proof for an understanding.

“We could only wonder if this is a ‘quid pro quo’ for the Adani group for the benefits the BJP earned during the election campaign. As a banking sector regulator, the RBI should conduct a detailed investigation,” he said.

On G.T Nanavati, who headed the Nanavati Commission that probed the Gujarat riots of 2002, stating that the Gujarat government took all steps to control the riots, the CPI general secretary, Sudhakar Reddy, said if this was indeed true, how could one account for the death of thousands in the pogrom.

Mr. Reddy said the CPI would welcome the parties of the ‘Janata Parivar’ coming together on a secularism plank. But the formation should make its stand on economic issues clear.

The CPI will hold its national conference in Puducherry between March 25 and March 29, 2015, Mr. Reddy added.

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