YES Bank crisis: RBI's Moratorium on lender to be lifted on March 18

RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3

The moratorium on Yes Bank will be lifted by March 18 and the new board led by CEO and MD Prashant Kumar will be put in place by the end of this month, the government said.

The government notified the Yes Bank Reconstruction Scheme 2020 late on Friday. Under the plan, SBI cannot reduce its stake in the bank to below 26 per cent for a period of three years, while other investors and existing shareholders will have a lock-in period of three years for 75 per cent of their investment in Yes Bank. However, the lock-in period will not apply