This came after a consortium of eight public and private banks, led by State Bank of India, agreed to infuse capital into Yes Bank to rescue it under the restructuring plan proposed by the government and RBI.
On March 5, the Reserve Bank imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor after it found that the new management was unable to raise the urgent core capital which had fallen much below the mandated level.
Yes Bank is a full service commercial bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.
