Rahul Gandhi alleges biggest stock market scam, demands JPC probe

After the closure of markets on Thursday, Congress leader Rahul Gandhi hit out at the BJP government alleging the 'biggest stock market scam' involving poll speeches, Exit Poll manipulation and stock market erosion on June 4, 2024.

"Why did the PM and Union Home Minister give specific investment advice to the five crore families investing in the stock market?" asked Rahul Gandhi at a press conference in New Delhi. "Is it their job to give investment advice? Why were both interviews given to the same media channels belonging to the same business group that is being probed by SEBI over allegations of manipulating stock?" said Rahul Gandhi.

"What is the connection between the BJP, the fake exit pollsters and the dubious foreign investors who invested one day before the exit polls were announced and made a huge profit at the cost of five crore salaries?" he noted.

"We demand a JPC as we are convinced that this is a scam. Somebody has made thousands of crores of rupees at the cost of Indian retail investors and the Prime Minister and the Union Home Minister have given an indication to buy. So we demand today a joint parliamentary committee to investigate this," he said in the media briefing.

Referring to the instances, he referred to May 23 speech when the Prime Minister had said that the stock market will hit new highs after the Lok Sabha election results. "I can say with confidence that on June 4, as BJP hits record numbers, the stock market will also hit new record highs," he had said.

Following that, on May 13, Union home minister Amit Shah had also urged not to link the stock market movements directly to the ongoing Lok Sabha elections."The market has nosedived in the past as well. So one should not link it directly to elections. Anyway, some rumours may have fuelled it, but in my opinion, buy before June 4. The market is going to shoot-up," he had told NDTV profit.