Conducting Due Diligence For Yes Bank's Rescue Plan: SBI Chief

SBI Chairman Rajnish Kumar on Saturday said that there is no need to panic for depositors of Yes Bank as RBI Governor has assured them in this regard. He further said that the lender is conducting due diligence on the restructuring plan for Yes Bank, and will get back to the Reserve Bank of India (RBI) with comments by Monday. His comments come a day after the government laid out a rescue plan for Yes Bank under which SBI - the country's largest lender by assets - will take a 49 per cent stake in the troubled private sector lender. The central bank has suspended Yes Bank's board and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3. Watch full bulletin.