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New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

Thiruvananthapuram, Apr 26: Kerala Chief Minister Pinarayi Vijayan on Saturday urged media houses not to resort to layoffs and pay cuts while the whole community is facing the COVID-19 pandemic.

The Chief Minister said the state government will also take necessary steps to test the media personnel in the state to ensure they have not contracted the deadly virus.

He also pointed out that the pandemic has severely impacted the media sector with many newspapers even reducing the number of pages.

"Journalists are among those who have been affected the most. Journalists on the field are also in danger. We have come to know about the reporters affected with coronavirus in other states. The government will take necessary precautions including testing to ensure that journalists don't contract the disease," Vijayan said.

He said the newspapers were not receiving advertisements these days because there are no social or public events resulting in less commercial activities in the society.

"I would like to urge the media houses not to engage in layoffs or salary cuts during this pandemic. Journalists are working shoulder to shoulder with health workers. During this pandemic, scribes are out in the field collecting news, despite the threat of disease and it was admirable," Vijayan said.

The chief minister said the government has asked the PRD to release the dues to various media houses.

Mumbai, May 17: Much on expected lines, Maharashtra, on Sunday, extended the coronavirus lockdown till May 31, in order to control the spread of the virus, under the Epidemic Diseases Act, 1897, the state government said in a statement.

On Sunday afternoon, Chief Secretary Ajoy Mehta, in a notification said: "It is further directed that all earlier orders shall be aligned with this order and remain in force up to and inclusive of May 31, 2020. The calibrated phase-wise relaxation or lifting of lockdown orders will be notified in due course."

"Lockdown 3.0 ends today. Lockdown 4.0 will come into effect tomorrow and will be valid till May 31. There will be some relaxations in the fourth phase," he said.

"The green and orange zones will get more relaxations, in terms of starting more services. As of now only essential services are operational, he said.

Maharashtra has recorded 30,706 COVID-19 cases of which 22,479 are active. The death toll is 1135, while 7,088 patients have been discharged after recovery.

In exercise of the powers conferred under Section 2 of the Epidemic Diseases Act, 1898 and the powers, conferred under the Disaster Management Act, 2005, the Chairperson, State Executive Committee, issued direction to extend the lockdown till 31 May 2020 for containment of COVID-19 epidemic in the State and all Departments of Government of Maharashtra shall strictly implement the guidelines issued earlier form time to time, according to the statement.

Over the last two days,  Maharashtra Chief Minister Uddhav Thackeray held a series of meetings with his ministerial colleagues, senior leaders including NCP supremo Sharad Pawar and top officials.