HamberMenu
  1. EPaper

To enjoy additional benefits

Crossword+

CONNECT WITH US

Hopeful of moratorium being lifted this week: Yes Bank administrator

RBI-appointed administrator Prashant Kumar said that the bank continues to look for capital and called it one of his top priorities along with restoring depositors’ confidence

March 09, 2020 06:21 pm | Updated 07:11 pm IST - Mumbai

PTI
Account holders queue up at Yes Bank's Sagar Tech Plaza Branch in Mumbai on Saturday, March 07, 2020.

Account holders queue up at Yes Bank's Sagar Tech Plaza Branch in Mumbai on Saturday, March 07, 2020.

Beleaguered private sector lender Yes Bank is hopeful of the moratorium being lifted by this Saturday, its RBI-appointed administrator Prashant Kumar said on Monday.

He told PTI that the final approval from the Reserve Bank to the SBI-led resolution plan would result in Yes Bank coming out of the moratorium.

He also made it clear that the lifting of the restrictions does not hinge on capital raising plan.

Mr. Kumar, former chief financial officer of SBI, however, said that the bank continues to look for capital and called it one of his top priorities along with restoring depositors’ confidence.

Also read: Data | The Yes Bank crisis explained in six charts | Explained: Why did Yes Bank have to be bailed out?

The bank, which had over ₹2.09 lakh crore in deposits, was put under moratorium last Thursday due to an inability to raise capital . Its board was superseded and Mr. Kumar was placed as the administrator.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.