Small Investors of the country suffer lakhs of crores losses in this crash and volatility.  The inconsistent behaviour of the Finance Ministry is the root cause for this inconsistency in Sensex, states Dr. Kirit Somaiya, ex MP & President, Investors’ Grievances Forum (IGF).

This can happen only in India.  Clarification from the Finance Ministry and SEBI comes during the working hours of Stock Exchanges, hour after the crash.  Why the clarification about PN Route was not issued in the morning before the starting of the market?

It is a pity that both the Finance Ministry and SEBI appreciate and support abnormal increase of Sensex . 

Market added 1000 points and reaches 15,000 in 213 days.  But subsequent jump of 1000 points from 15,000 to 16,000 points was only in 75 days and reaches 17,000 in 7 days, 18,000 in 13 days and 19,000 in just 6 days.

First, they welcomed, appreciated and supported non-transparent, anonymous, manipulative and speculative PN route investment.  Everybody knows this is hedge fund, hot money and promoters anonymous money.  Now suddenly, coming out with “intention to regulate PN route”.  This demands public explanation.  This is the third time that market has been closed due to lower circuit in the last 3 years, said Dr. Somaiya.

Irresponsible behaviour of Finance Ministry and SEBI is responsible for this crash.  Dr. Kirit Somaiya, ex Member of Parliament & President, Investors’ Grievances Forum, demanded explanation “why Finance Ministry ignored the loophole, lacuna and abuse of PN Route for the last 3 years”?

Investors’ Grievances Forum for the last 3 years has been consistently demanding streamlining of PN Route.  The concern expressed by RBI, Prime Minister’s Advisor, Intelligent Bureau about the hot money, terror money, speculative money demands attention and correction.