Yes Bank failure to honour sudden spike in withdrawals led to bailout

Sudden withdrawals totaling about a quarter of Yes Bank’s deposits and the lender’s inability to honour these requests forced the regulator to hasten the State Bank of India-led bailout, with the government-owned financier giving ₹6,500 crore of emergency funding to the private bank.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2U3OTrW