Congress Alleges ₹44,000 Crore Diverted to U.S. from Indian Investors in Jane Street Case

Quick Summary

• The Congress party alleged that New York-based hedge fund Jane street manipulated India’s Futures and Options (F&O) market, siphoning off ₹44,000 crore over five years.
• Party spokesperson Supriya Shrinate accused regulatory bodies like SEBI, NSE, ED, and the government of negligence in letting this occur without proper intervention.
• SEBI findings show Jane Street made ₹44,000 crore in profits between January 2023 and March 2025 but took no strong action against the firm aside from issuing a mild warning.
• Ms.Shrinate claimed jane Street repatriated it’s massive profits to the U.S., exploiting inefficiencies in Indian markets as allegedly admitted during a court hearing abroad.
• Rahul Gandhi repeatedly raised concerns about investor protection while regulatory institutions failed to address loopholes.
• Congress questions what Prime Minister Modi and his cabinet were doing during this period of “looting” by a foreign trading firm.

Indian Opinion Analysis

The allegations against Jane Street raise serious questions for India’s financial systems and regulatory oversight. If credible evidence supports claims of manipulation by algorithm trading firms over such an extended period,it could indicate systemic vulnerabilities in the F&O market-a segment already dominated by high-risk investors. The lack of decisive action from SEBI despite apparent knowledge underscores concerns about governance gaps within essential financial watchdogs tasked with safeguarding small investors.

Moreover, enabling swift repatriation of earnings by foreign entities may signal potential flaws in capital controls or tax enforcement mechanisms. India’s reputation as a growing global financial hub requires robust administrative frameworks to maintain investor trust domestically and internationally. If true, addressing these lapses is crucial not just for accountability but also for preventing future exploitation within critical economic sectors.

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