Yes Bank resolution framework underway, depositors can withdraw money from Mar 18: Das

The Reserve Bank of India (RBI) on Monday said the resolution framework for Yes Bank is underway as planned and depositors can withdraw their money from the evening of March 18.

The RBI governor, Shaktikanta Das, also assured to intervene with additional liquidity if there is a need.

Defending the steps taken on Yes Bank and expressing confidence in getting the intended outcomes, Das said the identity of the bank will be retained as a private sector lender.

Das also said that despite the crisis at Yes Bank and the rapidly evolving coronavirus pandemic on the economy and the banking system, the health of the banking system is good.

In a tweet, Yes Bank also said customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier.

"We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services," the tweet said.

"You will also be able to access all our digital services & platforms @RBI @FinMinIndia," it said.