YES Bank resolution will be swift, 30 days is an outer limit: RBI governor



Defending the timing of YES Bank's moratorium, Reserve Bank of India (RBI) governor Shaktikanta Das on Friday assured swift resolution to the issues concerning the beleaguered lender.
“The resolution will be done very swiftly, it will be done very fast. 30 days which we have given is the outer limit. You will see a very swift action from RBI,” told reporters after ASSOCHAM's 15th annual banking summit.
"The decision is taken at a larger level, not at individual entity level, the move is aimed at ensuring safety of financial system," he added
On the timing of the action on YES Bank, Das said there is always debate over RBI acting prematurely or taking too long to act.
“A market-led and bank-led resolution of the problem is always preferable. You have to give time to the bank management to take step and efforts. And the bank did take efforts. When we found that we cannot wait and should not wait any longer, we decided to intervene," Das added. Read More

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