YES Bank crisis: FM assures depositors as RBI promises quick resolution

RBI has assured there will be a quick resolution, says FM, even as RBI Governor promises resolution in 30 days; SBI Chairman Rajnish Kumar says problem at hand is lender-specific, not sectoral

A day after Reserve Bank of India (RBI) imposed a moratorium on the capital-starved YES Bank, capping withdrawals at Rs 50,000 per account and superseding the private sector lender's board, Finance Minister Nirmala Sitharaman assured depositors that their money is safe and the RBI is working on an early resolution of the issue.

“I'm in continuous interaction with the RBI. The central bank is fully seized of the matter and has assured they will give a quick resolution. I want to assure every depositor that their money shall be safe. Their monies are safe,” Sitharaman told reporters.

Sitharaman said the