The central bank said all the deposits and liabilities of the bank will continue in the same manner in the reconstructed bank, unaffected by the scheme.

“All the deposits with and liabilities of the reconstructed bank, except as provided in the scheme, and the rights, liabilities and obligations of its creditors, will continue in the same manner and with the same terms and conditions, completely unaffected by the Scheme,” it said.

However, Additional Tier 1 capital which was issued by the Yes Bank under Basel III framework, “shall stand written down permanently, in full, with effect from the Appointed date,” the scheme said.

RBI Governor Shaktikanta Das has said the resolution of Yes Bank would be done swiftly.

“The resolution (of Yes Bank) will be done very swiftly, it will be done very fast. The 30 days which we have given, is the outer limit,” Mr. Das said at the sidelines of an event.

The scheme has taken care of the employees as it mandates that they will continue to with same same remuneration and service conditions at least for one year.

However, the board will have the freedom to discontinue the services of the Key Managerial Personnel (KMPs) at any point of time after following the due procedure. There will be no change in the offices or branch network of the reconstructed bank.

Comments have been invited for this draft scheme by Monday, March 9, after which RBI will take a final view.

Prashant Kumar, the RBI appointed administrator of Yes Bank assured that the lender is taking necessary steps to ensure seamless transactions for the customers and there is no reason for depositors to panic.

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