Modi world's costliest 'watchman': Cong slams PM over bank frauds

New Delhi: World's costliest 'chowkidar' (watchman) is Prime Minister Narendra Modi, said Congress on Saturday.

Addressing a press conference in Delhi, former union minister and senior Congress leader Kapil Sibal said, "World's costliest chowkidar is our prime minister. He gets accommodation, air travels and plays the role of chowkidar. Why are bank frauds happening under his vigil?"

He made this remark while highlighting a bank fraud allegedly committed by a Delhi based jewellery outlet.

The Central Bureau of Investigation (CBI) on Thursday filed a case against jeweller Dwarka Das Seth International for alleged fraud of Rs 390 crore.

"A complaint was lodged against Dwarka Das Seth International in August 2017 but surprisingly FIR was registered in February 2018," Sibal said.

The Oriental Bank of Commerce had lodged complaint against Dwarka Das Seth International on August 16, 2017 but the CBI registered FIR on Thursday. The bank in its complaint said that jewellery firm's directors and their family members could not be traced at their residences for the last 10 months.

This new bank fraud has surfaced after over Rs 10000 crore scam was unearthed at the Punjab National Bank (PNB), which involves celebrity jewller Nirav Modi, his family members and Mehul Choksi, owner of Gitanjali Gems.

Sibal lamented that Prime Minister Modi used to level all types of corruption allegations against the United Progressive Alliance (UPA) government over 'presumptive loss' of Rs 176 lakh crore in 2G spectrum allocation but why is he quiet on banking scam which is a 'real loss'.

"After keeping a mum for so many days, he (Prime Minister Modi) has spoken yesterday that all fraudsters will be brought back. The question is why you allowed them (fraudsters) to flee when you are a chowkidar?" asked Sibal.

On Thursday, Prime Minister Modi said the government will not tolerate embezzlement of public funds and will continue to come down strongly on instances of financial irregularities.

It is notable that industrialist Vikram Kothari, the promoter of Rotomac Pens, and his son Rahul Kothari, were arrested on Thursday in Rs 3,700-crore loan default case.

Liquor baron Vijay Mallya, who is in United Kingdom, is also wanted in India for money laundering and defrauding a consortium of Indian banks to the tune of more than Rs 9000 crore.