RBI must repeal notification allowing banks to undertake compromise settlement of wilful defaults: Cong

New Delhi: The Congress on Wednesday attacked the Centre over the Reserve Bank of India allowing banks to go for a compromise settlement of fraud accounts and wilful defaults and demanded that the central bank immediately repeals its instructions and also reveal if there was any “pressure” from the government to issue the notification.

Congress general secretary Jairam Ramesh sought a clarification from the RBI as to why it has changed its own rules on “wilful defaulters” and “frauds”.

“The Prime Minister (Narendra Modi) has always eagerly bent or changed rules to help his friends in a few large business groups. The most powerful example of this is, of course, the Adani Group, on which we have already posed 100 questions to the PM in our HAHK (Hum Adani ke Hain Kaun) series,” Ramesh said in a statement.