Mumbai, March 17 -- Reserve Bank of India (RBI) governor Shaktikanta Das on Monday assured all depositors of YES Bank Ltd that their money is safe and there is no reason to withdraw cash in panic. YES Bank has enough liquidity and RBI is ready to provide liquidity support to the bank if required, Das said.
"I want to tell depositors that their money is completely safe. No reason for panic withdrawal or undue worry," he said.
The assurance comes ahead of the lifting of a moratorium on YES Bank at 6pm on Wednesday. On March 5, RBI imposed a moratorium on YES Bank and superseded its board, capping all withdrawals by depositors at Rs.50,000.
Das said that this is the first instance of a public-private partnership to revive a crisis-hit bank....