There's a complete chaos in the Indian stock markets, says Sanjay Nirupam. (File)
The Mumbai Congress unit today launched a 'hoarding war' blaming the Bharatiya Janata Party government for the ongoing stock market crisis in the wake of the IL&FS developments.
More than 250 hoardings came up all over the country's financial capital, highlighting the bloodbath witnessed in the past few days in the crashing stock markets with Sensex and Nifty indices plunging, which resulted in losses of lakhs of crores of rupees for investors and traders.
"There's a complete chaos in the Indian stock markets... Within barely a fortnight, the Sensex crashed by over 3,000 points and Nifty by 1,600 points. This has resulted in a wipe-out of Rs. 15 lakh crore of investors' monies," said Mumbai Congress President Sanjay Nirupam.
Added to this is the depreciation of the Rupee vis-A-vis the USD, now at over Rs. 74, the galloping fuel prices, besides other financial misgovernance of Prime Minister Narendra Modi's rule that has destroyed lakhs of small investors, he said.
"For this entire financial and economic crises which have resulted in the commoners losing their savings, Modi must apologise to the nation. We have also demanded a White Paper on the IL&FS crises, but the government has not reacted," Mr Nirupam said.
The hoardings have come up at prominent public places, railway stations, the two national highways slicing through the city, major landmarks, railway stations and other important junctions.