P. Chidambaram Accuses BJP-Led Government Of Financial Mismanagement Over Yes Bank Crisis Gripping Country’s Fifth Largest Private Lender Bank

New Delhi: Former Finance Minister and Senior Congress Leader P. Chidambaram addresses media at AICC headquarters in New Delhi on Saturday accused the BJP-led government at Centre for mismanaging financial institutions in the country. The attack by the Congress comes amid a financial crisis gripping country’s fifth-largest private lender Yes Bank.

“Mismanagement of financial institutions by BJP govt will remain in public domain and debated extensively. Thanks to media, especially social media, YES Bank issue has reached most people who are concerned about the economy and its institutions,” Chidambaram said.

The former finance minister ahead and said that government’s management on economic front today is best judged by the market. “Best judge of management of economy is the market. Yesterday Sensex fell by 884 points, price of an SBI share fell by ₹ 18, rupee (to USD) declined by 54 paise, price of an YES Bank share fell from ₹ 36.80 to ₹ 16.15; actually it’s worthless,” Chidambaram said.