Early Friday morning, a senior banker woke me up with his outbursts on the phone: “Is this the way to save a bank? We are killing it and creating a big trust deficit in the financial system.” He was referring to the moratorium imposed on Yes Bank Ltd by India’s banking regulator the previous day, capping withdrawal of money by its depositors at Rs 50,000 each.
The Reserve Bank of India (RBI) also superseded its board and appointed an administrator, a year after it ousted the bank’s promoter — CEO Rana Kapoor and appointed Ravneet Gill as the new ...
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First Published: Sun, March 08 2020. 21:52 IST
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