Reserve Bank of India governor Shaktikanta Das said on Monday the moratorium on Yes Bank will be lifted on Wednesday at 6pm as he stressed there was swift and strong action by RBI and the government to shore up the private lender.
Das reiterated depositors’ money is absolutely safe and that there is no need for panic withdrawal.
“I would like to convey to the depositors of Yes Bank, through you, that their money is completely safe and there is nothing to worry. There is no reason for any undue worry,” Das said during a press conference.
“The underlying theme on which the scheme is based is to protect the depositors’ interest,” he said.
Das also said that the new Yes Bank board will take charge on March 26.
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