Reserve Bank of India to Resolve Yes Bank Crisis in 30 Days - Finance Minister Nirmala Sitharaman
New Delhi (Sputnik): The Reserve Bank of India (RBI), the Indian banking regulator, took over the management of the Punjab and Maharashtra Cooperative Bank last year following allegations of widespread financial irregularities. Two charge sheets have been filed by investigative agencies in matters pertaining to high-level corruption in the bank.
Indian Finance Minister Nirmala Sitharaman on Friday said that India's banking regulator - the Reserve Bank of India (RBI) - will achieve a resolution to the crisis-hit Yes Bank within the next 30 days.
Addressing the press a day after the bank's management was suspended by the RBI, Sitharaman explained that the salaries of Yes Bank employees will be protected for a year.
https://sputniknews.com/india/202003061078495086-reserve-bank-of-india-to-resolve-yes-bank-crisis-in-30-days—finance-minister-nirmala-sitharaman/