Yes Bank Account Holder? Here's All You Need To Know
6, Mar 2020, 5:37 PM
In a rare move, capital-starved Yes Bank was on March 5 placed under a moratorium with the RBI capping deposit withdrawals at Rs 50,000 per account for a month & superseding its board. Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment. RBI has assured Yes Bank depositors that their interest will be fully protected and that there is no need to panic. The regulatory actions came after SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by Prashant Kumar, an ex-chief financial officer of SBI. If you're a Yes Bank account holder, here's all you need to know.