Yes Bank resumes full banking services for their customers
News | Mar 19, 2020, 02:25 PM ISTAfter RBI lifted the moratorium on Yes Bank on evening of March 18, the under-recovery lender resumed its full banking services for their customers.
After RBI lifted the moratorium on Yes Bank on evening of March 18, the under-recovery lender resumed its full banking services for their customers.
Yes Bank will resume full banking services from 6 pm on today onwards.
Yes Bank founder Rana Kapoor's daughter Roshni Kapoor stopped from leaving the country at Mumbai Airport. She was going to London by British Airways. Enforcement Directorate questioned her for nearly 3 hours.
Watch India TV program Haqikat Kya hai to know the truth behind the story.
Yes Bank depositors queued up outside troubled lender's branch on Chimanlal Girdharlal Road in Ahmedabad, criticising the government for capping withdrawal limit at Rs 50,000.
State Bank of India chairman, Rajnish Kumar said that the total quantum of investment in Yes Bank is at Rs 2,450 crore. In a press conference held on March 07, Rajnish Kumar said, "Currently, there are 25 percent shares outstanding and as per the draft scheme, SBI can take up to 49 percent. The only requirement is locking 26 percent for three years. Anything above 49 percent will depend on investors. The total quantum of investment in Yes Bank is at Rs 2,450 crore." Reserve Bank of India imposed a month-long moratorium on Yes Bank citing 'serious deterioration in its financial position' on March 05, and capped withdrawal limit at Rs 50,000.
The Enforcement Directorate raided Yes Bank founder Rana Kapoor's residence on Friday, in connection with a money-laundering probe against him. The action comes just a day after the crisis-hit bank was placed under a moratorium with withdrawals capped at Rs 50,000
Yes Bank Crisis: Yes Bank on Friday evening sought to calm everyone down by issuing a statement and said that the moratorium imposed by Reserve Bank of India was "temporary" and all efforts are being made to revive the bank.
After Reserve Bank of India placed Yes Bank under a month-long moratorium, Chief Economic Advisor of India, Krishnamurthy Subramanian, said that depositors' funds will remain safe, and they need not to panic.
After Reserve Bank of India placed Yes Bank under a month-long moratorium, Governor Shaktikanta Das said that people can expect "swift action" by the central bank to revive the private lender
Equity benchmark indices tumbled during early hours on March 06 after another overnight steep fall on Wall Street with banking stocks seen coming under pressure after the Reserve Bank of India (RBI) placed Yes Bank under a moratorium and took over its board. At 10:15 am, the BSE S-P Sensex was down by 1,036 points or 2.69 per cent to 37,435 while the Nifty 50 dived by 306 points or 2.72 per cent at 10,963. All sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank down by 5 per cent, private banks by 4.5 per cent, metal by 4.2 per cent and realty by 3.8 per cent. Among stocks, Yes Bank crashed by 29.89 per cent to Rs 25.80 per share after the RBI said it is superseding the board of troubled private sector lender with immediate effect.
Reserve Bank of India (RBI) has put Yes Bank under moratorium and capped its withdrawal limit to Rs 50,000 for its account holders per month. Board of Directors has been superseded for period of 30 days.
The government restricted withdrawal from capital starved Yes Bank at Rs 50,000 in the next one month. This restriction will remain till April 3, 2020.
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