In a reassuring message to Yes bank depositors, Union Finance Minister Nirmala Sitharaman has assured that their money is safe. She has made it clear that steps taken by RBI are in the interest of the depositors, the bank & the economy

RBI: FINANCIAL STABILITY BEING ENSURED



RBI governor Shaktikanta Das said recent decisions have been taken to provide stability to the financial sector. He was speaking about the YES Bank issue during the 15th ASSOCHAM Annual Banking Summit.

Later talking to reporters the RBI governor defended the timing of Yes Bank's moratorium and assured swift resolution to the issues, concerning the beleaguered lender.

Speaking on recent, Yes Bank financial debacle, Cheif Economic Advisor Krishnamurthy Subramanian assured all depositors that their funds will remain safe, and there is no need to panic.

Speaking on the Yes Bank crisis SBI Chairman Rajnish Kumar said that There is no need to panic. The interests of all stake-holders and depositors will be protected.