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Yes Bank To Resume Banking Services In Full On 18 March

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Yes Bank Ltd, via its Twitter handle, informed that it will resume full banking services from 6 pm on 18 March, wherein all 1,132 branches of the private lender will be opened to its customers.

 

"We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services. You will also be able to access all our digital services & platforms," the tweet said.

The Reserve Bank of India (RBI) had placed Yes Bank under a moratorium on 5 March and restricted withdrawals to Rs 50,000 per depositor till 3 April.

Yes Bank To Resume Banking Services In Full On 18 March

The moratorium will be now lifted than scheduled, on 18 March, and the bank will function as per the government's approved resolution plan. RBI appointed administrator for the restructuring of the troubled bank, Prashant Kumar, will take over as the chief executive officer (CEO) and managing director (MD).

The State Bank of India (SBI) will be infusing Rs 7,250 crore in the reconstructed entity via the equity route. The other investors include ICICI Bank, Kotak Mahindra Bank, HDFC, Axis Bank, Bandhan Bank, Federal Bank and IDFC First Bank.

Read more about: yes bank
Story first published: Monday, March 16, 2020, 14:51 [IST]
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