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Yes Bank rescue plan: RBI announces draft scheme of reconstruction

The suggestions and comments are open for the public and will be received by RBI up to March 9, and it will take a final view soon thereafter

March 06, 2020 / 05:06 PM IST
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The Reserve Bank of India (RBI) on March 6 placed a draft scheme of reconstruction of Yes Bank in the public domain.

"RBI invites suggestions and comments from members of the public, including the banks' shareholders, depositors and creditors on the draft scheme. The draft scheme has also been sent to Yes Bank and State Bank of India (SBI) for their comments," the RBI said in a statement.

Follow LIVE coverage of Finance Minister Nirmala Sitharaman on Yes Bank

State Bank of India has expressed its willingness to make an investment in Yes Bank and participate in its reconstruction scheme, it said.

The suggestions and comments will be received by RBI up to March 9, 2020, and it will take a final view soon thereafter.

It may be recalled that the Yes Bank was placed under an order of moratorium on March 5, 2020, effective up to April 3, 2020.
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