RMC seeks release of Rs 160 cr Smart City Mission fund in Yes Bank

Gujarat deputy CM Nitin Patel said that apart from the Rs 160 crore, the government has no other deposit in the capital-starved Yes Bank which was placed under moratorium for one month on Thursday. The RBI has superseded the board of Yes Bank and capped withdrawals at Rs 50,000. State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VRD8aw