Minister in the Presidency, Jeff Radebe, has dismissed suggestions that government is trying to bully the country’s four major banks over their decision to cut ties with the Gupta-linked company, Oakbay Investments.
Ministers Pravin Gordhan, Mildred Oliphant and Mosebenzi Zwane are the ministers who will be looking into the matter.
702's Stephen Grootes (standing in for John Robbie) talks to EWN reporter, Gaye Davis regarding the issue.
Listen to the interview below:
Jeff Radebe was adamant that it is not an investigation, he said that this is just an information seeking exercise.— Gaye Davis, EWN reporter
He faced a barrage of questions from journalists who wanted to know whether this was ever done before and whether this was a case of the executive meddling in the commercial decision by banks, given that Oakbay is a private entity.— Gaye Davis, EWN reporter
The sentiment in the room was that Cabinet is rallying to the defence of the Gupta family in its battle with the banks. It does beg the question of the kind of precedent it sets— Gaye Davis, EWN reporter
They [opposition parties] are insisting that the Reserve Bank should be in charge of regulating the banks.— Gaye Davis, EWN reporter