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YES Bank crisis: Cabinet likely to take up revival plan on March 13

RBI Governor Shaktikanta Das had met SBI Chairman Rajnish Kumar on Friday to discuss the way forward.

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The draft ‘YES Bank Ltd Reconstruction Scheme, 2020’ will be put up for the approval of the Union Cabinet when it meets on Friday, the official said.

Somesh Jha New Delhi

2 min read Last Updated : Mar 12 2020 | 1:22 AM IST

The Reserve Bank of India’s (RBI’s) revival plan for YES Bank will need the central government's approval, which may come in by Friday, according to a government official.

The draft ‘YES Bank Ltd Reconstruction Scheme, 2020’ will be put up for the approval of the Union Cabinet, chaired by Prime Minister Narendra Modi, when it meets on Friday, the official said.

The RBI had made the draft reconstruction scheme public on Friday, a day after it took over the board of the troubled lender and imposed restrictions on lending and withdrawal activities. The RBI had invited comments from State Bank

Topics : Reserve Bank of India Shaktikanta Das Rajnish Kumar State Bank of India

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