New Delhi: Chief Economic Advisor Krishnamurthy Subramaniam on Friday assured the safety of the interests of YES Bank’s customers. He said that bank depositors’ money is safe and all options are being considered for restructuring the bank.
Subrahmanyam said this a day after the Reserve Bank of India banned Yes Bank and dissolved the board of directors with immediate effect. The Reserve Bank has also stopped withdrawals of more than Rs 50,000 a month on Yes Bank customers. Subramanyam told reporters here after the meeting with Finance Minister Nirmala Sitharaman, “The Reserve Bank has taken the right steps.” All depositors’ money is safe. “
He assured that the interests of customers of the bank would be protected. All options for restructuring Yes Bank are being considered. The Reserve Bank has also banned any new loan disbursement, restructuring, investing, etc. of Yes Bank. The central bank has appointed Prashant Kumar, former chief finance officer (CFO) of State Bank of India (SBI) as the administrator of Yes Bank, while the board of directors of SBI, the country’s largest bank, has invested in cash-strapped Yes Bank. Has given ‘theoretical’ approval.
