Congress Working Committee (CWC) special invitee Chinta Mohan has demanded a probe into the investments made by public sector institutions in firms owned by the Adani Group and the impact of the stock market debacle on the companies.
Staging a demonstration in front of a State Bank of India (SBI) branch here on Monday, Dr. Chinta Mohan said the fall in stock prices wreaked havoc on small investors.
“While Indira Gandhi nationalised the banks to safeguard the interests of the poor farmers and small traders, the present government is serving the interests of the corporate giants,” he charged, claiming that SBI and LIC had suffered extensively due to their investments in Adani firms.
Meanwhile, Congress leaders who went to stage a demonstration at the LIC Kadapa divisional office were intercepted by the LIC unions stating that the LIC’s funds were safe. They appealed to the party not to create a sense of fear and uncertainty among the policyholders.
The union’s divisional general secretary A. Raghunatha Reddy urged the city Congress president Vishnu Preetam Reddy not to mislead the public over the ‘notional’ losses, as they were not incurred by the company as the shares were not sold at all.
