Gandhi questioned prime minister's silence on the issue saying a scam of such a big scale could not have taken place without top-level protection and asked PM 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 country. He has demonetised the economy. He has taken money from 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 Steering Committee adopted a resolution asking the prime minister to tell the nation the reasons for the failure of the fraud detection ability of the entire banking sector and the finance ministry.
The Steering Committee 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.
"The manner in which thousands of crores of rupees of public money was looted with impunity and the complete failure of entire risk management system tells its own story of favours extended and protection granted," it said.
Taking a jibe at PM Modi Gandhi said that instead of spending an hour-and-a-half explaining to children how to take exams, the prime minister should explain to the people of India what is going to be done to Nirav Modi and "what is he going to do to make sure that the banking system is safe".
He also wondered why the defence minister and social justice minister were briefing on the issue whereas it is the job of the FM and the PM.
"It must have been known to the people in government beforehand. Otherwise, it is not possible because the amount is so huge," he said.
(With PTI inputs)