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Relief for customers: Moratorium on Yes Bank lifted, full banking services resume

While net banking services are now operational, the bank's 1,132 branches across the country will be open during banking hours starting March 19.

March 18, 2020 / 10:56 PM IST

The moratorium on troubled private sector lender Yes Bank has finally been lifted. The bank will now resume its full range of services and the withdrawal cap of Rs 50,000 will also cease to exist.

"Our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation," the bank tweeted via its official handle.

Customers can now access their deposits with the bank and avail NEFT/IMPS/RTGS services as well.

Yes Bank's branches will open an hour earlier, at 8.30 am, from March 19 to March 21, with extension in banking hours for senior citizen customers, it said via a tweet. 

The bank's new Twitter bio reads as follows: "We start a new journey, backed by India's best. We've redefined YES and it's dedicated to YOU."

Yes Bank was placed under moratorium earlier this month. The Reserve Bank of India (RBI) had superseded the private lender's board and withdrawals had been capped at Rs 50,000 per depositor for a month-long period.

Also Read | Yes Bank crisis : With services set to resume today, here's what depositors need to know

While net banking services are now operational, the bank's 1,132 branches across the country will be open during banking hours starting March 19.

RBI Governor Shkatikanta Das, during a press conference earlier this week, had reassured customers of the safety of their deposits with Yes Bank. He had reiterated that there was no need for worry, and the depositors' money is safe.
Moneycontrol News
first published: Mar 18, 2020 06:16 pm
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