Tuesday 28 September 2021

Who is Responsible for "YES BANK" Failure?

Hello Public, While making a statement on Yes Bank Crisis, P Chidambaram former Finance Minister said "“I understand the Finance Minister has made a statement blaming the UPA. That’s normal for a government living in ignorance. Does the Finance Minister know the numbers? If she does, will she please explain how the loan book jumped in five years from Rs 55,633 crore to Rs 2,41,499 crore? Who knows, the FM may blame the UPA for the miraculous jump between 2014 and 2019".

From the Sequence of Events - it is somewhat CLEAR to the PUBLIC that it is due to POLITICAL INTERFERENCE of the Governments in power, be it UPA or NDA, that Banks like Yes Bank are allowed to go BANKRUPT. How can the Reserve Bank of India escape from its responsibility of SURVEILLANCE on the country's Banking System which is the backbone of the Indian Economy? The Culprits - Board of Directors of Yes Bank, the Auditors of Yes Bank, and the Regulators in the RBI need to be sued for Criminal Negligence and Dereliction of Duty. Yes, Bank failure is not OVERNIGHT but it is due to long patronage and protection by successive Governments and RBI Governors who continuously allowed things to deteriorate.

Will Reserve Bank of India, the Financial Regulator will wake up to take Corrective Steps in respect of the existing remaining Banks well in time so that the hard-earned money of the depositors are not distributed among greedy Corporate who fund their Political Master for their ill designs.

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