Long Queue Witnessed Outside Yes Bank After RBI Decision Over Withdrawals
Mumbai: Long queues were seen outside Yes Bank’s ATMs and branches as customers gave a month-long deferment to the Reserve Bank of India (RBI) on withdrawals.
One of the Yes Bank customers from Mumbai branch told ANI, “It was shocking that the RBI put a limit of Rs 50,000. I have tried to take out cash from ATMs but they were blocked by Yes Bank. NEFT transactions were also not taking place. I came here at 7 am to withdraw money.”
“I will think about continuing my account with Yes Bank. I had an account with Yes Bank for two years,” he said.
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During the period of the moratorium, Yes Bank Limited shall not pay to the depositor an amount in excess of Rs, in total, without the written permission of the Reserve Bank of India. The RBI directive states that it has credit in any savings, current or any other deposit account.
The RBI on Thursday gave a month-long deferment on Yes Bank citing “serious deterioration in financial position”.
Yes Bank’s ATM in Parel also ran out of cash as people rushed to withdraw money.
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