Reserve Bank of India Governor Shaktikanta Das has said 30 days is the outer limit to find a resolution for private sector lender Yes Bank which has been put on moratorium.
"We have issued two press statements yesterday, they explain in details the background of our decision
It will be done very swiftly, it will be done very fast. 30 days is the outer limit," Mr Das said at the sidelines of an event organised by industry body Assocham.
He reiterated that the Indian banking system is safe and sound. "Depositors interest (of Yes Bank) will be protected," Mr Das assured.
While putting the lender under moratorium till April 7, RBI capped deposit withdrawal at ₹50,000.
RBI has also superseded the board of the bank and appointed an administrator. State Bank of India, the country's largest lender, is exploring investment opportunity in Yes Bank.
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