Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said the central bank was ready to provide liquidity to Yes Bank, if required, even as he asked its depositors not to rush to withdraw their funds once the moratorium is lifted.

The moratorium on Yes Bank will be lifted at 6pm on Wednesday. On March 5, the banking regulator had placed restrictions on withdrawals, preventing depositors from withdrawing more than Rs 50,000 across all the accounts.

However, since then the resolution at the bank has proceeded at a quick pace with State Bank of India (SBI) and other lenders bringing in Rs 10,000 crore and a new board set to lead the bank. Late last Friday, the Centre had notified Yes Bank Reconstruction Scheme 2020.

Amid concerns that the bank could witness a flight of deposits once the restrictions are lifted, Das on Monday sought to reassure the depositors that their money is safe. The RBI is worried that if individuals and state government agencies withdraw their deposits from Yes Bank, it could impact the stability of the financial sector.

“Your deposits with Yes Bank is safe. There is no reason for undue worry or rushing into withdrawing deposit. Never in the history of Indian baking have depositors of scheduled commercial banks lost their money,” he observed.

HDFC stake

Mortgage lender HDFC will pick up a 7.97 per cent stake in Yes Bank for a Rs 1,000-crore capital infusion in the cash-strapped lender. On March 14, Yes Bank allotted 100 crore shares of face value of Rs 2 each to the corporation, aggregating to 7.97 per cent of the post-issue equity share capital of Yes Bank, HDFC said in a regulatory filing on Monday.

New board

Yes Bank on Monday said it has approved the reconstitution of its board with Prashant Kumar as the new MD & CEO. Sunil Mehta, the former non-executive chairman of Punjab National Bank, will be the non-executive chairman of Yes Bank. Mahesh Krishnamurthy and Atul Bheda will be the non-executive directors.

ED summon to honchos

The ED has summoned top corporate honchos, including Essel Group promoter Subhash Chandra, Jet Airways founder Naresh Goyal and Indiabulls chairman Sameer Gehlaut, to appear before it this week in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said.