As panic hit thousands of customers of the beleaguered Yes Bank, Finance Minister Nirmala Sitharaman said the government and the Reserve Bank of India were keeping a close watch on the lender. The Reserve Bank of India has already put up a draft scheme for reconstruction of the cash strapped bank.

The country’s largest lender—State Bank of India—has expressed its willingness in investing in Yes Bank, once promoted by Rana Kapoor.

The RBI on Thursday imposed a moratorium for a month after superseding the board. It appointed State Bank of India’s former deputy managing director and CFO Prashant Kumar. The move came after the bank failed to raise funds to offset the loan losses even after an extension in time limit.

Sources said a resolution plan should be ready before the one month period. This should happen before the one month period and therefore customers need not worry, two people familiar with the development said. SBI, along with Life Insurance Corporation, could also jointly look at picking up a 49 per cent stake in the cash-strapped bank for Rs 490 crore with each holding 24.5 per cent stake.

The RBI has also proposed that the investor bank will not be able to reduce its holding in the new lender below 26 per cent before a three-year period from the date of infusion of the capital.

Meanwhile the central bank set the withdrawal limit for depositors at Rs 50,000 as an aggregate limit for the entire moratorium period.

In a statement, Kumar said, “The current moratorium has been brought into effect keeping the depositors’ interest in mind and towards restoring their confidence. A solution is being worked upon to revive the bank well before the moratorium period of thirty days ends.”

Assuring the customers that there was no need to panic and their money was safe, Kumar said the bank was taking necessary steps to ensure seamless transactions..