Congress leader Rahul Gandhi on Friday launching a blistering attack on Prime Minister Narendra Modi over the Yes Bank crisis and said that his ideas have destroyed the country's economy.

"No Yes Bank. Modi and his ideas have destroyed India's economy," the former Congress president wrote on Twitter. The remark of the Congress leader came in response to the country's banking crisis that has, most recently, engulfed Yes Bank.

Rahul Gandhi
Rahul Gandhi has Rs 40,000 cash in hand and Rs 17.93 lakh as deposits in various banks.Twitter/@INCIndia

The government has issued an order of moratorium against the beleaguered private lender Yes Bank and imposed a withdrawal limit of Rs 50,000 for depositors with a few exemptions till April 3. A notification issued by the finance ministry last evening also stayed the "commencement or continuance of all actions and proceedings" against the bank.

Rahul Gandhi

In a late-night move, the Reserve Bank of India (RBI) Thursday superseded the board of Yes Bank for a period of 30 days "owing to a serious deterioration in the financial position of the Bank".

Nirmala Sitharaman
Sitharaman is ranked 34th who is a newcomer on the Forbes most powerful women list. Reuters

Congress demands Finance Minister Nirmala Sitharaman's resignation

The main Opposition party Congress also hit out at the Narendra Modi government over the Yes Bank crisis and alleged that people of the country are paying for the financial misadventures of the BJP from their pockets.

"Landscape BJP slogans over past 6 years: 2014: "15 Lac Le Lo" (For every citizen) 2018: "Pakoda Le Lo" (For every unemployed) 2020: "Tala (Lock) Le Lo" (For every Bank & Industry) People of India are paying for BJP financial misadventures from their pocket!" Congress spokesperson Jaiveer Shergill said on Twitter.

Jaiveer Shergill

Taking a sharp swipe at PM Modi, the Congress leader further said that "Pakodanomics of the BJP government" was working towards making the country "the economic shutdown capital of the world".

"Bleeding Banks is all Thanks to "Pakodanmics" of BJP Govt which is working towards making India "Economic Shutdown" Capital of the World; How many banks have to go bankrupt? How many more industries will shutdown? How much more unemployment will spread before FM resigns?" Shergill wrote.

yes bank
A watchman steps out of a Yes Bank branch in Mumbai, India, September 21, 2018REUTERS/Francis Mascarenhas

BJP blames previous Congress government

P Chidambaram

Countering Rahul Gandhi's attack, BJP's Amit Malviya put the blame on former finance minister P Chidambaram. Sharing a video of ailing politician Amar Singh, Malviya said that it's Chidambaram who is responsible for the economic and banking sector mess.

"No Rahul, it is P Chidambaram, your former finance minister, who is responsible for the mess India's banks and economy are in..." the BJP IT-cell in-charge wrote on Twitter along with a video of Amar Singh.

Chidambaram, however, slammed the BJP-led central government for its inability to govern and regulate financial institutions. He said that the BJP was in power for six years and now the saffron party can't run away from the responsibility.

"BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed. 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?" senior Congress leader and former Finance Minister P Chidambaram tweeted.

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