Report

RBI places Yes Bank under moratorium, supersedes its board for 30 days

- The RBI also put a withdrawal limit of INR 50,000 per depositor till the moratorium is in place
- State Bank of India and Life Insurance Corporation of India are likely to pick up 24.5% stake each in the bank to bail it out
- Yes Bank's problems surfaced in 2017 when the RBI found that the bank has been underreporting its gross non-performing assets
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