The restrictions on account holders in Yes Bank will be over in three days after the issuance of the notification on its restructuring, said Finance Minister Nirmala Sitharaman here today.

“The moratorium, which was put on March 5 on Yes Bank, will be lifted within three days of notification of the reconstruction scheme and the new Yes Bank board will be in place in seven days,’’ she told a news conference after the Union Cabinet approved the State Bank of India-led recovery plan.

While the SBI will invest up to 49 per cent equity in Yes Bank, boards of ICICI Bank, HDFC Bank and Axis Bank and Kotak Mahindra have approved investment in the crashed bank. Asked by when the notification will be issued, Sitharaman said, “very soon”. The SBI will have a three-year lock-in period for 26 per cent of its equity in Yes Bank while other investors will have a similar lock-in for 75 per cent of equity.

The SBI has already announced infusion of Rs 7,250-crore fund infusion which will make it eligible for 49 per cent of Yes Bank’s equity.