CHENNAI, JUNE 2:The ruling DMK has urged the Centre not to go ahead with the proposed hike in petroleum products, and said alternatives should be explored.The party adopted a resolution to this effect at its general council meeting held here on Monday. It also expressed concern over the proposed petroleum products price hike and asked the Centre to reconsider the move as it would greatly affect the people.The general council of the party expressed shock over the CRB capital market scam.In a resolution, it asked the Centre to arrest the culprits involved and to restore public confidence in financial institutions. The action of its chairman Bhansali to flee abroad was ``shameful,'' it said.

That the RBI, Unit Trust of India and SEBI had not taken action to prevent such a fraud indicated the ineffective functioning of controlling institutions, the resolution said. It was also an example of the rampant corruption at lower levels of the Finance Ministry.

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