Thread by @Paul_Koshy

While @PMOIndia refuses to answer about his direct role that caused massive wiping out of Billions of Dollars from investors in Adani Group shares and their other stake holders, pressures from the Supreme Court has forced SEBI to initiate a probe.

👇 SBIs response to SEBI

BJP IT Cell projects through its WhatsApp groups that the loss impacts only a handful of people who invest and trade in shares. That it does not affect most people because they do not invest in shares.

That's a lie. The loss in value of Adani Shares hits Banks net worth

The Adani Group pledged worthless shares of their new ventures and took massive loans from SBI

Value of these shares have fallen by over 83%.

So, to recover their loans if the banks sell these shares they recover ONLY 17% of the loan value.

#ModiGovt forced SBI to invest

When SBI, Bank of Baroda and other banks lose money, the Nation's Central Bank-Reserve Bank of India takes a hit.

So do innocent account holders who trusted their banks and saved their hard earned money with them.

Law allows banks to recover their losses from depositors

Common people's home loans, education loans and personal loans are recovered by attaching the properties that they pledge

In this case Banks have worthless papers which are called Equity shares of the Adani Group. There's nothing left to recover.

So ordinary folks pay for it

Instead of arresting the con man @gautam_adani, the #ModiGovt is doing everything to protect him.

BJP is lying to India when they say that this affects only those who deal in shares.

No. This affects every single citizen. RBI will have to take drastic measures which impacts all