"Just because the opposition asks for resignations, if we go on giving resignations, I think the country will become a banana republic," said Moily.
Meanwhile, BJP and other left parties demanded Chidambaram's resignation following a buzz that the former finance minister was aware of the irregularities in the allotment of 2G spectrum.
"We are responsible to the people, to parliament and people have elected the UPA led by the Congress party and we will definitely complete the term," Moily said.
Moily also said that opposition has always criticised the government whenever "any report comes, or something comes in CWG, or something comes in the Supreme Court because they don't have any other political capital".
"I think they must do some research on that and find out what is plausible and what kind of duty they shall discharge as opposition," he said.