In what may calm harried depositors of Yes Bank, its administrator Prashant Kumar on Monday said he is hopeful of the moratorium on the private sector lender being lifted by Saturday.
Kumar was installed as the administrator of the bank by the Reserve Bank of India (RBI) last Thursday, after the central bank superseded Yes Bank's board as it found that there was no headway in capital raising plans.
"We are hopeful that we will be able to work around, where the moratorium will be lifted by this weekend," he said, making it clear that moratorium lift-off and the capital raising plans are "unconnected".
Yes Bank has been put under a moratorium by the Reserve Bank till April 3, and customers are not allowed to withdraw more than Rs 50,000 from their accounts.
"As of now, we are expecting that most of our capital requirement will be met initially itself. | To read full story, visit https://startuparound.com/read/1583827206.7100952/Hopeful-of-moratorium-being-lifted-this-week:-Yes-Bank-administrator?ref=audio_experience