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Rahul Gandhi alleges retail investors lost Rs 30 lakh crore in biggest stock market 'scam'; demands JCP probe

Congress leader Rahul Gandhi on Thursday hurled some serious allegations against Prime Minister Narendra Modi, seeking a Joint Parliamentary Committee (JPC) probe into the June 4 stock market crash.

Rahul Gandhi alleges retail investors lost Rs 30 lakh crore in biggest stock market 'scam'; demands JCP probe gcw
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First Published Jun 6, 2024, 5:55 PM IST

Congress leader Rahul Gandhi on Thursday demanded a parliamentary probe into stock market moves before and after the exit polls following the country's recently concluded national elections.

Addressing a press conference, the former Congress President also questioned why top BJP leaders, including Prime Minister Narendra Modi, Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman, made comments about the stock market just days before the announcement of election results.

"For the first time we noted that during the elections, the Prime Minister, the Union Home Minister and the Finance Minister commented on the stock market," Rahul Gandhi said.

"PM Modi said that the stock market is rising at a great speed. the Union Home Minister said that on June 4 the stock market will be on the rise and you all should invest and similar was said by the Finance Minister. Amit Shah says buy shares before June 4. On May 19, PM Modi says the stock market will break records on June 4," he pointed out. 

“The media releases fake exit polls, BJP’s internal survey showed them 220 seats, BJP leaders had this info. Intel agencies had told that the government that they will get 200-220 seats. Stock market breaks all records on June 3, and on June 4, stock market goes underground,” he added.

The Congress leader further noted that on May 31, “massive stock activity – more than double what was there on May 30, more than double what was there on May 29”.

“Who are these people? These are those who were aware of a scam happening. Foreign investors invested thousands of crores and who was at loss…? Retail investors lost 30 lakh crore rupees. This is the biggest scam in the history of Indian stock market,” Rahul Gandhi claimed.

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