Reportedly india NATIONAL CONGRESS' target='_blank' title='congress-Latest Updates, Photos, Videos are a click away, CLICK NOW'>congress leader and former Union finance minister P chidambaram on saturday said the Yes bank fiasco was caused by "mismanagement" of financial institutions under the bjp government and demanded that the bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi conduct a thorough probe and fix accountability in the matter. He said it was "bizarre" for State bank of india to invest Rs 2,450 crore to pick up a 49-per cent stake in the crisis-ridden bank under the government-approved bailout plan.
He told this is a matter that must be thoroughly enquired into and accountability fixed. The india NATIONAL CONGRESS' target='_blank' title='congress-Latest Updates, Photos, Videos are a click away, CLICK NOW'>congress leader's comments came after the bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi in a rare move on thursday placed under moratorium capital-starved Yes bank, superseded its board and capped withdrawals at Rs 50,000 per account for a month. chidambaram asked how no officer of the bank OF INDIA' target='_blank' title='rbi-Latest Updates, Photos, Videos are a click away, CLICK NOW'>rbi noticed a 35-per cent jump in the loan book of the bank in a year when loan books of other banks were growing at nine per cent. On sbi offering to come to the aid, he said he does not get the impression that sbi is a volunteer in the rescue act, just as lic was not a volunteer in the IDBI bank rescue act.
The india NATIONAL CONGRESS' target='_blank' title='congress-Latest Updates, Photos, Videos are a click away, CLICK NOW'>congress leader said whoever takes over the bank, it must ensure that depositors' money is safe and every depositor is assured of his/her money, as the depositors are the most innocent ones. The former finance minister asked a series of questions to the government over the Yes bank crisis.
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