You will see very swift action from RBI putting in place a scheme to revive Yes Bank: Governor Das

You will see very swift action from RBI putting in place a scheme to revive Yes Bank said, Governor Das.

The lender's stock came under selling pressure after the RBI restricted withdrawal from the capital-starved bank at Rs 50,000 in the next one month. "This has been done to quickly restore depositors' confidence in the bank, including by putting in place a scheme for reconstruction or amalgamation," said the central bank in a statement.

The move by RBI comes nearly six months after it did the same with Mumbai-based Punjab and Maharashtra Cooperative (PMC) Bank. Meanwhile, State Bank of India (SBI) clarified that no negotiations related to an investment in Yes Bank had taken place.

Former SBI's Chief Financial Officer Prashant Kumar has been appointed the administrator of Yes Bank. At 11:20 am, Yes Bank was trading 54.89 percent lower at Rs 16.60 apiece.