Raghuram Rajan

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There was enough time to put together plan for Yes Bank, says Raghuram Rajan

Former RBI governor Raghuram Rajan on March 11 said there was a lot of time to put together a plan for Yes Bank which had given “enough” notice about the problems it was facing. Crisis-ridden Yes Bank was put under a moratorium last week, with the RBI capping withdrawals at Rs 50,000 per account and superseding its board.

SBI is set to pick up 49 per cent stake in the lender under RBI’s reconstruction plan.

“Yes Bank had given us enough notice that it has been in difficulty…so there was enough time to put together a plan.

“I hope what we have got is best available (plan), but I don’t want to second guess, because I don’t know the details,” Rajan said in an interview to CNBC-TV18.

Source: Moneycontrol

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