March 6, 2020 / 8:23 AM / a month ago

BRIEF-India Cenbank Governor Says Yes Bank Depositors' Interest Will Be Fully Protected

March 6 (Reuters) - Reserve Bank of India Governor Shaktikanta Das:

* SAYS ALL CENTRAL BANKS, INCLUDING RBI HAVE RESOLVED TO WORK TOGETHER IN COORDINATION TO SOLVE CORONAVIRUS PROBLEM

* SAYS SEEN SOME AMOUNT OF REVIVAL IN PORT ACTIVITIES IN CHINA, NEED TO SEE IF THEY SUSTAIN

* SAYS INDIA TO BE IMPACTED TO SOME EXTENT, NOT AS INTEGRATED WITH THE GLOBAL VALUE CHAIN AS SOME OTHER COUNTRIES

* OUR FOREIGN EXCHANGE RESERVES ARE QUITE ROBUST

* NON-STIGMATISED CURRENCY SWAP LINE MUST BE LAUNCHED BY THE IMF FOR COUNTRIES THAT NEED THEM

* SAYS COORDINATED SWAP LINE WOULD ACT AS SECOND LINE OF DEFENCE TO BOLSTER NATIONAL RESERVES ACROSS COUNTRIES

* SAYS WE STAND COMMITTED TO MAINTAIN STABILITY IN THE FINANCIAL AND BANKING SECTOR IN INDIA

* SAYS DECISION ON YES BANK TAKEN TO MAINTAIN RESILIENCE IN THE BANKING SECTOR

* SAYS AN INVESTOR LED ACTION IS PREFERRED ON YES BANK, WE DIDN’T WANT TO ACT PREMATURELY

* SAYS YES BANK DEPOSITORS’ INTEREST WILL BE FULLY PROTECTED

* SAYS TIMING TO INTERVENE IN YES BANK IS QUITE APPROPRIATE Further company coverage:

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