Fin Min Nirmala Sitharaman assures every Yes Bank Depositor that money is safe

Fin Min Nirmala Sitharaman assures every Yes Bank Depositor that money is  safe

Finance Minister Nirmala Sitharaman has broken silence on the Yes Bank crisis and assured depositors of the bank that their money is safe. Speaking to media, Sitharaman said, "I want to assure every depositor that their money is safe, and I’m in constant touch with RBI."

"RBI governor has assured me there will be no loss to any Yes Bank depositor. Both RBI and govt looking at Yes Bank issue in detail, we have taken a course which will be in everyone's interest," she added.

Sitharaman said the RBI is working for an "early resolution" to the Yes Bank issue and steps will be taken in the interest of depositors, bank and economy. "Immediate priority to ensure Yes Bank customers are able to withdraw money within Rs 50,000 cap," she added.