All you need to know about the Yes Bank Crisis, how the bank was driven to this point | ABP Uncut Explainer
The Reserve Bank of India (RBI) on Thursday imposed a moratorium of cash-ridden Yes Bank and also capped the withdrawals for its account holders to Rs 50,000 per account every month, till further notice.
The decision by the Central bank comes in the backdrop of mounting bad loan issue the private lender has been grappling with. The Reserve Bank of India (RBI) took the decision in consultation with the government to protect depositors' interest.
The RBI also superseded the board of Yes Bank, which has not been able to raise required capital for the last six months. It also appointed former Chief Financial Officer of SBI, Prashant Kumar as the administrator of Yes Bank.
Watch this video to know how Yes Bank has been driven to this point.
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