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'No Worries About Liquidity': Yes Bank CEO Says Operational Normalcy To Return By Wednesday

SBI and few private banks have invested in Yes Bank under a revival plan

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'No Worries About Liquidity': Yes Bank CEO Says Operational Normalcy To Return By Wednesday
Yes Bank
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'No Worries About Liquidity': Yes Bank CEO Says Operational Normalcy To Return By Wednesday
outlookindia.com
2020-03-17T17:38:43+05:30

Yes Bank CEO-designate Prashant Kumar on Tuesday said complete operational normalcy will be restored from 6 pm on Wednesday as he emphasised there are absolutely no worries about liquidity.

"No worries about liquidity; complete operational normalcy to be restored from 6pm Wednesday," he said.

In the past three days, more money came to Yes Bank compared to withdrawals as only one-third of customers withdrew Rs 50,000 from their accounts.

The moratorium imposed on crisis-hit Yes Bank by the Reserve Bank of India would be lifted on Wednesday.

The State Bank of India (SBI) and few other private banks have invested in Yes Bank under a revival plan.

SBI Chairman Rajnish Kumar said not even a single Yes Bank share it holds will be sold before three-year lock-in period.

SBI will increase stake in Yes Bank to 49% from current 42% in second funding round, Kumar added.

(With PTI inputs)


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