RBI Governor: Yes Bank resolution will be swift

Speaking on the move to take control of Yes Bank, Reserve Bank of India's (RBI) Governor, Shaktikant Das said, "The decision is taken at a 'larger level', not at the individual entity level, the move is aimed at ensuring the safety of the financial system."

The governor expressed confidence that the Yes Bank resolution will be done very swiftly and 30 days has been set as the outer limit.

The Reserve Bank of India on Thursday announced it has superseded the Yes Bank Board of Directors for 30 days and has appointed former SBI CFO Prashant Kumar as the bank's administrator.