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27 October, 2020 08:49 IST
YES Bank gets Rs 600 bn line of credit from RBI to resume operations
Source: IRIS | 20 Mar, 2020, 11.04PM
Rating: NAN / 5 stars.
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The Reserve Bank of India (RBI) has extended a credit line of Rs 600 billion to YES Bank to ensure that the bank is able to meet its obligations to depositors as it resumed its full-service operations on Wednesday, according to sources familiar with the development.

RBI Governor Shaktikanta Das on Monday had said the regulator was ready to offer liquidity if required.

''YES Bank has enough liquidity to meet any requirements. If required, the RBI will provide necessary liquidity support to it,'' he said.

''Never in the history of banks (in India) have depositors lost money. The point is, depositors' money is absolutely safe,'' Das had said in a conference, adding that the central bank's support should come as a “comforting factor for depositors''.

Shares of the company declined Rs 8, or 14.84%, to settle  at  Rs 45.90.  The total volume of shares traded  was  12,798,626 at  the BSE (Friday).

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