India: Pvt lenders may lose deposits to PSBs due to Yes Bank bailout
Mumbai, Apr 14 (PTI) The Yes Bank rescue has undermined confidence of depositors in private sector lenders and will lead to smaller entities losing deposits to state-run banks, a report said on Tuesday.
The research report from global ratings agency Moody's Investors Service comes at a time when many private sector lenders have reported a contraction of deposits in the March quarter when the Yes Bank crisis happened. The RBI - which had to steer the over Rs 10,000 crore Yes Bank bailout - has repeatedly assuaged such concerns, saying money in all the banks is safe.