Finance Minister Jaswant Singh has set up an internal committee to probe the involvement of finance ministry officials in triggering the sharp volatility in bank scrips witnessed during May-June. The Securities and Exchange Board of India (Sebi) is investigating if bankers had a hand in pushing up prices of bank stocks.
In its interim report submitted to the finance ministry, the market regulator had only listed the names of share brokers who were involved in pushing up share prices, senior government officials told Business Standard. Minister of State for Finance AV Adsul told the Lok Sabha today that the ministry had asked Sebi to table a final report soon.
