The Reserve Bank of India has today placed in public domain a draft scheme of reconstruction of the Yes Bank Ltd. The Reserve Bank invites suggestions and comments from members of public, including the banks' shareholders, depositors and creditors on the draft scheme. The draft scheme has also been sent to Yes Bank Ltd. and State Bank of India for their comments. The suggestions and comments will be received by Reserve Bank of India up to Monday, March 9, 2020. The Reserve Bank will take a final view soon thereafter.

It may be recalled that the Yes Bank Ltd. was placed under an order of moratorium on March 5, 2020 which will be effective upto April 3, 2020.

(Yogesh Dayal)

Chief General Manager

Reconstruction scheme draft opened for public consultation, inviting stakeholder submissions to inform the bank resolution process. The Reserve Bank of India placed a draft scheme of reconstruction for Yes Bank Ltd. in the public domain, circulated the draft to Yes Bank Ltd. and State Bank of India for comment, and invited suggestions from shareholders, depositors, creditors and the public within the stated consultation window; the announcement follows an earlier moratorium order on Yes Bank Ltd. and indicates the Reserve Bank will review submissions before taking a final view.