Chidambaram terms Yes Bank crisis as regulatory failure

Former finance minister and Congress leader P Chidambaram on Friday termed Yes Bank crisis as a completely "regulatory failure" and said there is no need to panic as the Reserve Bank of India. "It shows completely regulatory failure and I wonder if this is the end or there will be more in the line. Yet the government keeps absolute silence. PMC bank depositors are agitating every day before RBI offices in Mumbai. But the government did not respond," Chidambaram told reporters.