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Security tightened at Yes Bank branches, ATMs in Mumbai as depositors rush to withdraw money

As Yes Bank depositors rush to ATMs on Friday to withdraw cash a day after it was put under a moratorium, security at its branches, ATMs, headquarters across Mumbai was tightened to avert any untoward incident. The RBI has capped a withdrawal limit of Rs 50,000 as Yes Bank's faces capital crunch.

India TV Business Desk India TV Business Desk
New Delhi Updated on: March 06, 2020 15:12 IST
Yes Bank, Yes Bank ATMs, RBI, SBI

Security has been tightened at Yes Bank branches, ATMs in Mumbai as depositors rush to withdraw money a day after RBI imposed moratorium on the bank.

As Yes Bank depositors rush to ATMs on Friday to withdraw cash a day after it was put under a moratorium, security at its branches, ATMs, headquarters across Mumbai was tightened to avert any untoward incident. The RBI has capped a withdrawal limit of Rs 50,000 as Yes Bank's faces capital crunch.

During the day, account-holders rushed to branches of the bank and their ATMs in panic to withdraw money, leading to chaos at many centres, including the one in south Mumbai's Fort area.

"We have deployed police personnel outside the bank headquarters, its branch offices and ATM centres in the city to avert any kind of law and order issue," a spokesperson of the Mumbai Police said.

The police are constantly monitoring the situation and so far, no untoward incidents have been reported, he said.

Yes Bank ATMs across several cities run out of cash

After RBI capped withdrawal limit of Rs 50,000 on Yes Bank's depositors, people were witnessed queuing up outside Yes Bank ATM's across cities as many of them have run out of cash. The National Stock Exchange (NSE) has also imposed restrictions on Yes Bank shares in various segments, including futures and options.

Every depositor's money is secure: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has assured that money of every single depositor is safe and secure adding that she is in constant touch with the RBI and that the decision has been taken in depositors and economy's interest.

(With inputs from PTI)

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