Depositors Need Not Worry, Their Money is Safe: RBI on Yes Bank Crisis

New Delhi: Addressing the crisis in Yes Bank, RBI Governor Shaktikanta Das on Monday addressed a press conference, said that the depositors need not worry about their money as it is safe in the bank.

He also said that a swift action has been taken by the RBI and the Central government. “The lifting of moratorium will be done on March 18 at 6 PM,” he said.

Talking further about the plan, the RBI Governor said that the new board will assume its position and the office of the administrator will cease to exist on March 26.