Millennium Post

Fiasco caused by 'mismanagement' of financial institutions under BJP govt: PC

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 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 enquired into and accountability fixed," he told reporters.

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