Hindenburg report not credible, Cong wants to destabilise financial system: Rajeev Chandrasekhar

Former Union Minister Rajeev Chandrasekhar on Sunday said that nothing in the new Hindenberg report is credible and the Congress party, over the last 10 years, has adopted a strategy of politics of lies and is now seeking foreign help to destabilise the country's financial system.

He said that the report is meant to create chaos in the country by attacking the independent regulator SEBI and by casting aspersions on its Chairman.

"Let us be clear - this attack on @SEBI_India by a foreign bank Hindenburg, is an obvious partnership with the Congress and has an ominous motive and goal," Chandrasekhar posted on X social media platform.

It aims to destabilise and discredit one of the world's strongest financial systems and create chaos in the world's fastest-growing economy, the former minister stressed.

He said he has read the report and it is "no smoking gun".

The former minister further said that the financial sector has been rebuilt in the last 10 years by Prime Minister Narendra Modi -- "from the shattered, crony lending PSU banks and 10 per cent NPA legacy of UPA, insider trading ponzi frauds like Sahara scam to a vibrant financial system that is supplying equity and credit to worlds fastest growing economy, i.e., India".

"Even as banks in US fail and stick markets collapse, Indian banks and markets continue to grow," Chandrasekhar further said.

The former Rajya Sabha member said that several global forces with the help of the "Congress dynasty want to slow down or trip up India's rise. We won't let them".

He said that these are a set of innuendos and guesswork that are being tied together with a few grains of truth and there's is a certain plan behind this latest report.

(With inputs from IANS)