NEW DELHI: 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 RBI conduct a thorough probe and fix accountability in the matter.
He said it was “bizarre” for State Bank of India (SBI) 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.
“This is a matter that must be thoroughly inquired into and accountability fixed,” he told reporters.
He asked how no officer of the 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.
Yes Bank indulging in loan giving spree “isn’t banking but buccaneering”, he said, adding that the loan book of Yes Bank f
