NEW DELHI: Congress on Saturday claimed that the LIC investment of around Rs 33,000 crore in the Adani Group was “mobile phone banking” by the Modi government under pressure to help a company facing funding troubles owing to serious allegations of criminality.

Demanding a probe by Parliament's Public Accounts Committee (PAC) into how LIC was “literally forced” to make the investments as a “first step”, it claimed that internal documents showed that officials pushed through the proposal in May 2025 and the reported goals were to “signal confidence” in the conglomerate and to \"encourage participation from other investors\".

Seeking answers from the government on the latest move as well as SBI's 2023 decision to invest Rs 525 crore in Adani FPO despite a drop in the latter’s shares, Congre

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