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Yes Bank crisis: FM Sitharaman says RBI will look into what went wrong

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Finance Minister Nirmala Sitharaman on Friday said the government has asked the Reserve Bank to look into what went wrong at Yes Bank and fix individual responsibilities. Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, she said the bank was being monitored since 2017 and developments relating to it were being monitored on a day-to-day basis. The restructuring scheme will be fully effective within 30 days, she said adding that State Bank of India has expressed willingness to invest in Yes Bank. She said Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

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