Union Cabinet approved reconstruction scheme by RBI

Finance Minister told media on Friday that the cabinet has approved the reconstruction of crisis-hit yes bank scheme by RBI.
She further said, the state bank of India will invest 49% equity in yes bank and other investors will be invited.
On March 5, the RBI imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3
Yes Bank is not to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
Prashant Kumar, a former SBI executive, had assured customers that the moratorium period could end by this weekend.

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