New Delhi: Senior Congress leader P Chidambaram hit out at the government on friday, saying its “ability to govern and regulate financial institutions stands exposed”
The comments came a day after Yes Bank was placed under a moratorium, with the Reserve Bank of India (RBI) capping deposit withdrawals at the bank at ₹50,000 per account for a month and superseding its board.
The bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment during the period.
For the next month, Yes Bank will be led by RBI-appointed administrator Prashant Kumar, a former chief financial officer of the State Bank of India (SBI).
“BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed. first, it was PMC Bank now it is YES Bank. Is the government concerned at all? Can it shirk its responsibility? is there a third bank in the line?,” Chidambaram said in a tweet.
P. Chidambaram✔@PChidambaram_IN
BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed
First, it was PMC Bank. Now it is YES Bank. Is the government concerned at all? Can it shirk its responsibility?
Is there a third bank in the line?
The former finance minister also wondered if the BJP-led government would confirm that the loan book of YES Bank had grown under its watch from ₹55,000 crore in FY 2014 to Rs 2,41,000 core in FY 2019.
