The RBI has imposed a on month long moratorium on YES Bank, RBI assures the depositors of the YES bank that their interests will be fully protected and there is no need to panic,” it said in a statement. This is the first time that the central bank has taken such drastic action with respect to a big bank since July 2004 when the regulator got state-run Oriental Bank of Commerce (OBC) to take over Global Trust Bank to rescue the private sector lender.
