The Congress on Tuesday (July 8, 2025) alleged that the New York-based hedge fund Jane Street has siphoned off ₹44,000 crore of ‘unsuspecting small investors’ by manipulating the Futures and Options (F&O) market, and questioned how the Modi authorities allowed this rip-off to go on for therefore lengthy.
Addressing a press convention on the All India Congress Committee (AICC) headquarters, Supriya Shrinate, celebration spokesperson and chairperson of the social and digital media division, claimed that Jane Street, an American algorithm buying and selling agency, looted unsuspecting small investors of Indian markets for 5 steady years, whereas the Securities and Exchange Board of India (SEBI) and all different regulatory establishments “remained in deep slumber”.
Ms. Shrinate stated that SEBI’s personal findings on Jane Street present that the agency made a humongous revenue of ₹44,000 crore between January 2023 and March 2025 and repatriated all that cash to the U.S.
‘Were the agencies sleeping?’
“The total profits must be much more than this amount as these were the profits for just two-year period while Jane Street has been doing business in India for almost five years,” she stated, including, “Were the investigation agencies such as Enforcement Directorate (ED) and Income Tax sleeping?”
Ms. Shrinate famous that Leader of the Opposition Rahul Gandhi had repeatedly and repeatedly cautioned the federal government about defending the pursuits of the small investors within the F&O market, and nonetheless establishments corresponding to SEBI and the National Stock Exchange (NSE), that are supposed to shield their pursuits, have been caught napping because the ‘looting’ continued.
Alleging gross negligence by SEBI, Ms. Shrinate stated, “Five months ago, it had issued a mild warning to Jane Street but did not take any action and allowed it to trade till July.”
‘What were PM, other Ministers doing?’
Claiming that particulars about Jane Street’s working have been in public area, the Congress chief stated that the hedge fund, throughout a court docket listening to within the U.S., had overtly admitted that it had been making big income in India as a result of of the “inefficiencies here and still SEBI failed to take note”.
“Interestingly, this was the same Madhabi Puri Buch era of the SEBI that saw many other such scandals,” she stated.
Ms. Shrinate requested what have been the Prime Minister, Home Minister, Finance Minister and the SEBI doing whereas Jane Street “was robbing the Indian investors”.
“Who allowed Jane Street to repatriate such a huge amount of money to the U.S. and how does the government of India plan to get this money back,” she requested.
