Congress holds protest outside Sirhind SBI

Fatehgarh Sahib, February 6

On a call of the All-India Congress Committee, the district committee, led by Gurpreet Singh GP, district president of the committee, and former MLA Kuljit Singh Nagra, held a protest outside the SBI branch in Sirhind today.

A January 24 report by Hindenburg Research had alleged that the Adani Group had weak business fundamentals and was involved in stock manipulation and accounting fraud, among others. The report triggered a sell-off of shares of Adani Group companies.

While addressing the protesters, the Union Government has directed the public undertaking institutions like LIC, public sector banks and financial institutions to invest in companies of billionaires, which are losing market value, endangering the savings of crores of Indians, following a report by the US firm Hindenburg Research. He alleged that the Modi Government has put the life savings of 29 crore LIC policy holders and 45 crore SBI customers at a risk owing to a loss of Rs 33,060 crore within days. He said State Bank of India and other Indian banks have given a huge loan to the Adani Group and it owes about Rs 80,000 crore to Indian banks.

The district president of the committee said India’s economy has been weakening ever since the BJP government was formed at the Centre. He said the Congress party demands that the Chief Justice of Supreme Court or the Joint Committee (JPC) should probe the allegations of the Hindenburg Research Report.