Yes Bank resumes full banking services
Crisis-hit Yes bank on Wednesday resumed full banking services. The bank's 1132 branches across India are now open for its customers. The Reserve Bank of India (RBI) had put a moratorium on Yes Bank on March 5, restricting withdrawals to Rs 50,000 per depositor till April 3. It superseded the board of the troubled private sector lender and appointed Prashant Kumar as administrator.
Fight Against Coronavirus
- DOs & DON’Ts: How to keep safe
- A SIMPLE GUIDE: Symptoms, Risks
- TRAVEL : Restrictions, safety measures
- FAQs: Be Informed
"Our banking services are now operational. Customers can now experience the full suite of our services," Yes Bank said today.
On March 6, RBI came up with a reconstruction plan for Yes Bank. The plan involved SBI investing in Yes Bank and effectively owning a 49 percent stake in the bank. The withdrawal limit was lifted shortly afterward.