Money is safe: Govt assures Yes Bank depositors

The Centrehas assured the depositors of Yes Bank that their money is safe. Union FinanceMinister Nirmala Sitharaman said that the RBI is working for an earlyresolution of the crisis.

"Restructuringplan given by RBI will be implemented in the next 30 days to safeguard theinterest of depositors," said, while briefing the media in New Delhi on Friday.She further said that the salary of employees of Yes Bank is assured for oneyear and deposits, liabilities will be unaffected

Meanwhile,the RBI is preparing to offer a special liquidity window for Yes Bank as urgentfinancial support to the troubled private sector lender.

It maybe mentioned here that on March 5, SBI said its board had given an in-principleapproval to explore an investment in Yes Bank. Earlier that day, in a suddenmove, the RBI took control of Yes Bank and limited withdrawals.