Supersession of the Board of Directors of YES Bank Ltd.by RBI – RBA No. 27/2020

Supersession of the Board of Directors of YES Bank Ltd.by RBI – RBA No. 27/2020

Supersession of the Board of Directors of YES Bank Ltd.by RBI – RBA No. 27/2020

Government of India
Ministry of Railways
(Railway Board)

RBA No. 27/2020

No. 2018/AC-II/9/5/Pt.II

New Delhi, dated 06-03-2020

General Managers,
All Zonal Railways/ PUs

Sub: Supersession of the Board of Directors of YES Bank Ltd.by RBI.

Please find enclosed RBI’s press release dated 05.03.2020 regarding supersession of the Board of Directors of YES Bank Ltd. by RBI for a period of 30 days owing to serious deterioration of the financial position of the Bank. RBI has also imposed a limit of withdrawal amount ( presently 50,000 per month) from the bank.

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May like to direct PCPOs and PFAs to take necessary measures to ensure smooth disbursement of salary in March, 2020.

DA: As above

(Anjali Goyal)
Pr Executive Director/ Accounts
Railway Board

भारतीय रिजर्व बैंक 
RESERVE BANK OF INDIA

Supersession of the Board of Direcctors-Appointment of Administrator – Yes Bank Ltd.

In exercise of the powers conferred under 36ACA of the Banking Regulation Act 1949 the Reserve Bank has in consultation with Central Government, superseded the Board of Directors of Yes Bank Ltd for a period of 30 days owing to serious deterioration in the financial position of the Bank. This has been done to quickly restore depositors confidence in the bank, including by putting in place a scheme for reconstrcution or amalgamation. Shri Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator under Section 36ACA (2) of the Act.

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(Yogesh Dayal)
Chief General Manager

Press Release: 2019-2020/2025

supersession-of-the-board-of-directors-of-yes-bank-ltd-by-rbi-rba-no-27-2020

Source: Railway Board

 

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