New Delhi: Assuring the bank customers that their deposits are safe, the Reserve Bank of India (RBI) on Sunday said it is closely monitoring all the banks.
“Concern has been raised in certain sections of media about safety of deposits of certain banks. This concern is based on analysis which is flawed. Solvency of banks is internationally based on Capital to Risk Weighted Assets (CRAR) and not on market cap,” the central bank said in a series of tweets.
“RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of safety of their deposits in any bank,” it added.
The RBI’s tweet comes in the wake of the crisis surrounding India’s fourth-largest private bank, Yes Bank.
On Thursday, the RBI imposed a moratorium on Yes Bank, capping withdrawals at Rs 50,000 for the next one month.
It later released a revival plan proposing that the State Bank of India (SBI) acquire a 49 per cent stake in Yes Bank.
Closely monitoring all banks: RBI
