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Bank frauds expose Modi’s culture of corruption, cronyism: Congress
Bengaluru, Feb 27 (IANS) Bank frauds by diamond traders and pen makers expose the culture of corruption and cronyism thriving under the BJP-led National Democratic Alliance (NDA) government, said Congress spokesperson Randeep Singh Surjewala on Tuesday.
“The biggest bank loot scam of Rs 22,606 crore and Rs 5,000 crore Jan-Dhan Loot Yojana of the NDA government have exposed the Prime Minister’s claim on corruption,” said Surjewala in a statement here.
Noting that “flout, fleece and fly” were the “Modi Operandi” under the NDA government, the party official said in 10 days, scams valued at Rs 31,691 crore have been exposed.
“Post-escape of Lalit Modi or ‘Chhota Modi #1’ and Vijay Mallya, another ‘#ModiRobsIndia’ scam has hit our banking sector. First, Lalit Modi flew away after the government helped him on the sly to secure travel documents to Britain. Then, Vijaya Mallya escaped after duping Rs 9,000 crore,” read the statement.
Lalit Modi is the former Indian Premier League (IPL) T-20 cricket chairman and Mallya a liquor baron and business tycoon.
In yet another scam, state-run Bank of Baroda lost Rs 6,400 crore in a forex deal. Two weeks ago, diamond traders Nirav Modi, who is “Chotta Modi #2”, and his uncle Mehul Choksi also fled the country, duping about 30 banks of Rs 22,606 crore and common people of Rs 5,000 crore through a ponzi money-for-gold schemes – “Mangal Swarna”, “Mangal Labh” and “Swarna Mangal Kalash”.
As if this was not enough, Rotomac pen makers Vikram Kothari and his son Rahul Kothari duped many banks of Rs 3,695 crore.
“Another jewellery firm – Dwarka Das Seth Jewellery International Ltd defrauded state-run Oriental Bank of Commerce of Rs 390 crore through ponzi schemes and con letters of credits. ‘Dupe the banks and leave for foreign shores with people’s money” has become the buzzword,” said Surjewala.
Observing that under the Modi government, the banking sector’s risk management system, fraud detection ability and the regulatory mechanism were compromised, the Congress said prior knowledge to the Prime Minister’s Office, Enforcement Directorate (ED), Ministry of Corporate Affairs, Serious Fraud Investigation Office and market regulator SEBI and their inaction led to the perpetration of the frauds.
“Detailed complaints on May 7, 2015; July 26, 2016 and May 3, 2017 were filed with the concerned authorities with complete inaction bordering upon complicity. FIRs were also submitted to EoW, Ahmedabad, Gujarat DCP…which met a similar fate,” pointed out Surjewala in the statement.
Stating that the people wanted answers from Modi on the scams, the Congress said the government owed an explanation on how the banking system was bypassed and how the fraud escaped the four-stage audit system of banks — statutory, internal, concurrent and central bank.
“How did the banking sector’s ‘risk management system and fraud detection ability’ come to nought,” asked Surjewala.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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