SC trashes Swamy's plea on bank scams

Kashmir Times. Dated: 10/8/2021 7:38:41 PM

NEW DELHI, Oct 7: The Supreme Court on Thursday trashed a PIL by senior BJP leader Dr Subramanian Swamy, seeking an inquiry into the role of the Reserve Bank of India (RBI) in many bank scams in the recent years because of its faulty guidelines on how to deal with the Non-performing Assets (NPA).

A Bench of Justices Dr D Y Chandrachud, Vikram Nath and B V Nagarathna refused to hear his petition on tinkering with NPA, telling him that it is a matter of the monetary policy in which the court can't interfere and he better raise his case before the RBI.

The Court, however, asked the RBI to consider if Dr Swamy submit an application.

''We can say that RBI looks at your application and makes a decision at the policy level, but we cannot constitute a committee for the purpose as sought," the Court added.

"This is a matter of jurisdiction of the legislature. The court cannot order the creation of guidelines in the case," presiding judge Chandrachud said.



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