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Yes Bank moratorium: RBI Board Member explains why it took so much time

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India's central bank took control of the country's fifth-largest private sector lender Yes Bank on Thursday and imposed limits on withdrawals, spreading confusion and fear among account holders. In an interaction with ETNow, Sachin Chaturvedi, Board Member, RBI also said the idea is to get steady flow of liquidity for YES Bank. “RBI has been in touch with YES Bank management for the last 6 months,” said Chaturvedi adding that the RBI governor has shown zero tolerance on the compliance front.

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