Moratorium on Yes Bank to be lifted on March 18

The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18.

Current administrator Prashant Kumar has been appointed managing director and CEO of the newly-reconstructed board.

The Reserve Bank of India (RBI) had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. The scheme has been notified on March 13 and hence the moratorium will be lifted on the third working day or March 18.