SC issues notice to RBI, CBI on Subramanian Swamy's plea

The Supreme Court issued notice to the RBI and the CBI on a plea filed by BJP member Subramanian Swamy seeking a CBI probe into the alleged role of RBI's nominee director in bank loan fraud cases.

New Delhi:The Supreme Court issued notice to the Reserve Bank of India (RBI) and Central Bureau of Investigation (CBI) on a plea filed by BJP member Subramanian Swamy seeking a CBI probe into the alleged role of RBI's nominee director in bank loan fraud cases.

"The RBI nominee director has not been touched by the CBI's inquiry in 1997. The RBI nominee has a significant role in deciding who should get loans and there is no reason why should he/she should not be investigated....even in the recent cases of Gitanjali and Vijay Mallya the RBI has not been investigated by the CBI...my prayer is to include all those who are there in the processing of loans," pointed out Dr Subramanian Swamy

"If found innocent, that advice was not taken or actions were not in accordance with the advice, then he can be proved innocent...the fact is that the CBI has not investigated the RBI director...is in my opinion violation of Article 14," Dr Swamy added