The Congress president Rahul Gandhi asked PM Narendra Modi “To explain why it had happened and what steps were being taken to ensure the banking system was safe in India. The fact of the matter is that the prime minister has, through his actions, destroyed the financial system of this nation. He has demonetize the economy. He has taken money from Indian people's pockets and put it into the banking sector and now his friends and cronies are stealing it from the banking sector and the prime minister is not saying anything," he charged.

The Congress on Saturday set up an all-out attack on the NDA government over the alleged multi-crore PNB fraud involving Nirav Modi, saying a scam of such magnitude could not have taken place without "top-level protection", and questioned the prime minister's silence on the issue.

The Congress Steering Committee, which functions in place of the Working Committee, also adopted a resolution asking the prime minister to tell the nation the reasons for "failure of the fraud detection ability" of the entire banking sector and the finance ministry.

The Steering Committee, which fixed that the party's plenary session would be held in Delhi on March 16, 17 and 18 to decide the future strategy of the Congress, said the "biggest bank scam" has exposed the complete failure of "regulatory mechanism" and "fraud detection ability" of the banking sector and the failure of oversight by the Reserve Bank of India and the finance ministry.