Congress spokesperson Gaurav Vallabh has hit out at the Narendra Modi-led government for the economic slowdown in the country, dubbing it as a "man- made disaster." "The current economic crisis is a man-made disaster , with demonetisation, hasty implementation of the GST, wrong policies and very often policy rollbacks, which caused the disastrous economic crisis that India is facing today," he said on Saturday. He claimed the actual growth rate will be in negative, if the negative growth of informal sector is accounted for. "We demand safety and refund of people's hard earned money which has got stuck in the PMC Bank. Depositors should be allowed to withdraw their funds," he said.Citing many regulatory lapses, including massive under-reporting of non-performing assets, the RBI has put a slew of restrictions on PMC Bank for next six months.

Source: Economic Times September 29, 2019 09:22 UTC