Rahul Gandhi accuses Narendra Modi govt of destroying Indian economy

Subsequent to the Yes Bank crisis after the Reserve Bank of India (RBI) imposed limitations following which its shares plummeted, Congress leader Rahul Gandhi launched an attack on BJP for pulling down the economy.

"No Yes Bank. Modi and his ideas have destroyed India's economy," Rahul Gandhi wrote on Twitter on Friday.

Also Read: Yes Bank crisis: Nirmala Sitharaman assures account holders that their money is safe

Also Read: Yes Bank Crisis: RBI caps withdrawal limit; panic spreads after shares plummet

The Congress leader’s tweet criticising the government came a day after the RBI placed Yes Bank under a moratorium and limited monthly withdrawal to Rs 50,000 per account.

Earlier, senior Congress leader P Chidambaram had stated that the BJP led NDA’s ability to govern and regulate financial institutions had been exposed.

"The Bharatiya Janata Party (BJP) has been in power for six years. Their ability to govern and regulate financial institutions stands exposed," P Chidambaram said.

In a tweet, the former finance minister also stated that, "First, it was the 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 RBI on Thursday put Yes Bank under a moratorium and decided that Yes Bank account holders would not be permited to withdraw more than Rs 50,000. however, for purposes like health emergencies and marriage, exceptions can be made, the RBI stated.