India's Yes Bank rescue plan approved, posts big loss

  • India Premium
  • Sunday, 15 Mar 2020

NEW DELHI: A central bank-backed proposal to rescue embattled Yes Bank has been approved and withdrawal limits will be lifted, officials said, as India's fourth-largest private lender posted a big quarterly loss.

Yes Bank was struggling with bad loans and on the brink of collapse when the Reserve Bank of India seized control of the lender on March 5 and imposed withdrawal limits for customers.

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Yes Bank , India , Rescue Plan Approved


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