Yes Bank depositors' money safe, RBI working on resolution: FM

Gallery

MORE...

Sports

Men’s Sr Hockey Nationals to be played in division-based format from April 4

The 15th Hockey India Senior Men National Championship, set to take place from April 4 to

Mensik denies Djokovic 100th title in Miami final

KIPG: Son of a vegetable vendor, Bihar’s Jhandu Kumar eyes Worlds, 2028 Paralympics

Hardik Singh credits hard work and team unity for receiving HI Midfielder of the Year award

Djokovic, Alcaraz land in same half of Miami draw

India to host 2nd Asian Yogasana Championships from March 29 to 31

MORE...

Yes Bank depositors' money safe, RBI working on resolution: FM

Last Updated : 06 Mar 2020 04:42:00 PM IST

Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor.

"RBI Governor has assured that there will be no loss to any Yes Bank depositor," she said, adding that the steps taken to take control of the bank is in interest of depositors, bank and the economy.

"I want to assure every depositor's money is safe, and I'm in constant touch with RBI," Sitharaman said, adding she was herself monitoring the situation for couple of months.

She assured the resolution will be found at the earliest and RBI and government are working together on this.

The Minister said she will speak to RBI Governor to see depositors don't face any cash crunch and the priority is safety of the depositors' money and can't give details of the plan.

On Thursday, RBI superseded Yes Bank management and appointed a former SBI chief financial officer as administrator and put a moratorium on withdrawal of deposits for a month capping it at Rs 50,000 crore.