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YES Bank insolvency may tighten credit market, widen economic pain: S&P

YES Bank insolvency may tighten credit market, widen economic pain: S&P

Monday, March 9, 2020, 4:15 PM

S&P Global Ratings said quick resolution of YES Bank insolvency will keep India's banking sector contagion at bay, but as credit markets tighten there could be a possibility of wider economic pain in the country. The Reserve Bank last week imposed a moratorium on the capital-starved YES Bank, capping withdrawals at Rs 50,000/account and superseding the board of the private-sector-lender with immediate effect.
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