The Reserve Bank of India on Thursday (RBI) put Yes Bank under moratorium. It has capped withdrawals at Rs 50,000. The RBI said in a statement, "The Reserve Bank came to the conclusion that in the absence of a credible revival plan, and in public interest and the interest of the bank's depositors, it had no alternative but to apply to the central government for imposing a moratorium under section 45 of the Banking Regulation Act, 1949." The RBI has also appointed former chief financial officer (CFO) of SBI, Prashant Kumar as the administrator of Yes Bank.