Don't rush to withdraw deposits from YES Bank: RBI governor Shaktikanta Das

Das said the central bank had enough instruments for use if needed - they would be deployed at a time that would maximise impact

Reserve Bank of India (RBI) Governor Shaktikanta Das said deposits in YES Bank were safe, after announcing long-term repo operations (LTRO) of Rs 1 trillion to infuse liquidity in the banking system and, of another round of dollar sell-buy swaps to address the currency's shortage. Bond yields had fallen sharply in the day, reacting to the hastily called press conference by the Indian central bank after its American counterpart lowered its policy rate to zero. 

The expectation was that RBI, too, would announce a rate cut, besides other measures by banks to ease the pain of businesses witnessing a slowdown