As RBI releases rescue plan, Yes Bank says solution likely in 30 days
As the Reserve Bank of India and the government step up to resurrect Yes Bank, its new administrator Prashant Kumar on Friday said a solution is being worked upon to revive the bank well before the 30-day moratorium period ends.
“The current moratorium has been brought into effect keeping the depositors’ interest in mind and for restoring their confidence. A solution is being worked upon to revive the bank well before the moratorium period of 30 days ends. The bank is also taking the necessary steps to ensure seamless transactions for the customers.
“We assure the depositors that their money is safe and there is absolutely no reason to panic. Look forward to the continued support from the depositors” as an advisory to customers,” Prashant Kumar, who has been appointed administrator for Yes Bank by the RBI, said in a statement released by the bank.
