Mumbai: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.   "There is...

The ED contended before the Mumbai court that Yes Bank bought debentures worth Rs.3700 crores of DHFL. In lieu of the same DHFL sanctioned a Rs.600 crore loan to Doit Urban Ventures Pvt Ltd, a company in which Kapoor’s daughters are directors. The said loan was given without adequate collateral.

“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,” its second tweet said.

Yes Bank placed under a moratorium Thursday evening, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.

“The survival of the bank is a must,” Kumar told reporters at a news conference, adding that several investors had approached SBI to form a consortium to pick up the 49% stake. He declined to name any of the investors.

SBI, while neither denying nor confirming the news report, told stock exchanges that it will abide by the timelines under SEBI disclosure regulations in disclosing the developments, if any in the matter to Stock Exchanges.

To further bolster the confidence of customers, the government has increased deposit insurance cover by five-fold to Rs 5 lakh to ensure security of public money in banks.