April 12, 2025 01:19 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
15 flights diverted, many delayed as dust storm hits Delhi, Haryana | AIADMK, BJP join hands again to contest Tamil Nadu elections under Edappadi K Palaniswami | PM Modi inaugurates Rs. 3,880-cr projects in Varanasi on 50th visit to his Lok Sabha constituency | Bengal job losers camp outside SSC office in Kolkata, demand mirror copies of genuine candidate list | Mumbai terror attack accused Tahawwur Rana sent to 18-day NIA custody | Donald Trump's latest tariff hike on Beijing brings additional rate on some Chinese goods to 145 pct: White House | Pakistan distances itself from 26/11 terror accused Tahawwur Rana, says he is 'Canadian national' | Tahawwur Rana’s extradition proof of Modi govt's diplomatic strength: Amit Shah | Adult unmarried parents can live together without marriage: Allahabad High Court | Bengal job losers hold massive rally in Kolkata protesting over police assault
UNI

Your money is safe, don't panic: Yes Bank tells customers

| @indiablooms | Mar 06, 2020, at 06:16 pm

New Delhi/IBNS: Yes Bank on Friday assured its customers that all their money is safe and there was no need to panic.

With reference to the above, the withdrawal limit for depositors has been capped at Rs. 50,000 as an aggregate limit for the entire moratorium period, wherein customers will be allowed to withdraw a total of Rs. 50,000 from their accounts, the bank said in a statement.

Prashant Kumar, Administrator – YES BANK, appointed by the Reserve Bank of India, 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. The Bank is also taking necessary steps to ensure seamless transactions for the customers. We assure the depositors that their money is safe and there is absolutely no reason to panic. Look forward to continued support from the depositors” as an advisory to customers."

In a major crisis for Yes Bank, the government on Thursday imposed a withdrawal limit of Rs 50,000 for depositors of the beleaguered private bank.

A notification, issued by the finance ministry on Thursday evening, said the limit will stay in effect till Apr 3, 2020.

 The restriction has been imposed as a part of an order of moratorium issued by the government which also stayed the "commencement or continuance of all actions and proceedings" against the bank.

However, the limit will have few exemptions likes in cases of medical emergency, higher education, marriage and unavoidable emergency, the notification mentioned.

Meanwhile, the bank's board has been superseded for a period of 30 days "owing to serious deterioration in the financial position of the Bank", the RBI had said in a separate statement.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu