Yes Bank crisis explained
” It is an extremely trustworthy and sustainable restructuring strategy,” Mr. Das said while addressing the media here on the Yes Bank concern and the coronavirus crisis.
Terming the restructuring of the bank a “historical development”, he stated that it is the very first time a weak and failing bank has actually not been merged with another more powerful lender and rather the reserve bank has proceeded with reconstructing the bank.” It is also an instance of public personal partnership (PPP) for revival of an economic sector bank,” he said.
Against the backdrop of the Maharashtra government deciding to desist from having accounts in personal sector banks, Mr. Das said that RBI has actually written to all state governments stating that the Indian banking sector is