Yes Bank problem bank-specific, not sectoral: SBI chief

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Press Trust of India New Delhi
Last Updated : Mar 06 2020 | 1:30 PM IST

A day after the RBI superseded the board of India's fourth-largest private sector lender Yes Bank, State Bank of India (SBI) Chairman Rajnish Kumar on Friday said the problem at hand is lender-specific and not sectoral.

On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"The RBI has said they will come out with a restructuring plan (for Yes Bank)," Kumar told reporters after meeting Finance Minister Nirmala Sitharaman.

The resolution will come "very shortly," he said without elaborating.

The Reserve Bank on Thursday placed Yes Bank under a moratorium and imposed limits on withdrawals.

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

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First Published: Mar 06 2020 | 1:30 PM IST

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