RBI increased Yes Bank's credit line to Rs 60,000 crore

(PTI) New delhi date. ૧૯

To prevent a financial crisis in the Yes Bank, the Reserve Bank of India (RBI) has extended the Yes Bank's credit line. The central bank has increased the credit line of Yes Bank to Rs. The decision has been taken by the RBI so that the bank can fulfill its obligations to its owners.

It may be recalled that RBI Governor Shaktikanta Das said on Monday that if the bank needs cash after the sanctions imposed on Yes Bank, the RBI is ready.

"I would like to state that Yes Bank has sufficient cash to meet any requirement," he said. If he needs it, the RBI will help him.

Das said that in the history of banks in India there has never been a loss of account holders' money. According to Section 1 of the RBI Act, 1, the intermediary bank can assist the lender in cash advance in exchange for stock, funds and securities.

According to sources, the RBI, in its own review, found that Yes Bank has a cash problem but the bank has no problem with solvency or any other.

It is worth mentioning that the restrictions imposed on the Yes Bank, including withdrawal of funds, have been lifted from March 7. The board, headed by CEO and MD Prashant Kumar, will take charge by the end of this month.

It is worth mentioning that since March 5, the RBI has banned withdrawals of more than Rs.

In addition to Kumar in the new board of Yes Bank, Sunil Mehta, former non-executive chairman of PNB, will be inducted as non-executive chairman. Besides, Mukesh Krishnamurthy and Atul Bheda will also be included as non-executive directors.