In a statement, 64-year-old Bansal, who was made Railway Minister in October last year, claimed he has always observed highest standards of probity in public life and that nobody can influence his decisions.
He also sought an expeditious CBI inquiry into the issue.
"Regarding yesterday's incident involving my sister's firm in a CBI raid at Chandigarh, I have to say that I have no knowledge or proof about the matter at all. Though a close relative, he or any other relative of mine does not and cannot meddle in my official function or influence my decision.There is also no business relationship between his and my family.
Bansal's nephew V Singla was yesterday arrested by the CBI, which also held a Member of the Railway Board in connection with alleged bribery of Rs.90 lakh for fixing a top level position in the government.
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Singla was arrested in Chandigarh for allegedly accepting Rs.90 lakh in cash from Manjunath, the conduit of Mahesh Kumar, recently promoted as Member (Staff) and trying to get a lucrative position as Member (Electrical).
Kumar was arrested in Mumbai by a CBI team soon after he had flown in from Delhi. CBI has registered a case under the Prevention of Corruption Act and the IPC against him.