Govt notifies YES Bank rescue scheme; moratorium to be lifted on March 18

Three-year lock-in period for investors

The Union government has notified the YES Bank reconstruction scheme according to which the moratorium on the private sector lender will be lifted on March 18.

The notification states that there shall be a lock-in period of three years to the extent of 75 per cent of equity shares for investors holding over 100 shares and those who have been allotted shares under the reconstruction plan. The lock-in is effective from March 13. Investors holding less than 100 shares of YES Bank are exempted from this rule.

Earlier, Finance Minister Nirmala Sitharaman had said there would be a lock-in of three years