STOCK MARKET BSE NSE

Kapil Sibal criticises Arun Jaitley for blaming regulators in PNB fraud

Earlier in the day, Jaitley held regulators and auditors responsible for over Rs 11000 crore fraud at PNB. 

Published: 24th February 2018 08:21 PM  |   Last Updated: 24th February 2018 08:21 PM   |  A+A-

Senior Congress leader Kapil Sibal. | PTI File Photo

By ANI

NEW DELHI: Senior Congress leader Kapil Sibal on Saturday criticised Finance Minister Arun Jaitley for blaming regulators over the Punjab National Bank (PNB) fraud. 

Talking to ANI, Sibal said that it was not just to blame only regulator in the PNB fraud. 

 “Why to blame only regulator? What about political system and the fact that finance ministry must have known about it? What was nominee of the government doing in these banks?” asked Sibal. 

The former union minister said it was very glib for Jaitley to say regulators were responsible.

“The whole issue (PNB fraud) needs to be investigated. It is very glib for people to say regulators are responsible,” Sibal said.

Earlier in the day, Jaitley held regulators and auditors responsible for over Rs 11000 crore fraud at PNB. 

Speaking at ET Global Business Summit 2018, Jaitley said, “Regulators have a very important function. They ultimately decide the rules of the game and have to have a third-eye. But unfortunately in the Indian system, we politicians are accountable, the regulators are not.”

The PNB fraud involves celebrity jeweller Nirav Modi, his family members and Mehul Choksi, owner of Gitanjali Gems. 

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp