Yes Bank Ltd.: RBI announces Scheme of Reconstruction

The Reserve Bank of India has today placed in public domain a draft scheme of reconstruction of the Yes Bank Ltd. The Reserve Bank invites suggestions and comments from members of public, including the banks’ shareholders, depositors and creditors on the draft scheme. The draft scheme has also been sent to Yes Bank Ltd. and State Bank of India for their comments. The suggestions and comments will be received by Reserve Bank of India up to Monday, March 9, 2020. The Reserve Bank will take a final view soon thereafter.

It may be recalled that the Yes Bank Ltd. was placed under an order of moratorium on March 5, 2020 which will be effective upto April 3, 2020.