#Ep 5: The Consistent Compounders Show :Stay tuned to catch Saurabh Mukherjea in conversation with Sohini Andani, Fund Manager, SBI Mutual Fund.
you are here: HomeNewsBusiness

Yes Bank branches look deserted after moratorium lifts

PTI visited four branches of the private lender - two in the central suburb and two in Navi Mumbai, where hardly one to two customers were seen.

March 19, 2020 / 01:12 PM IST
Representative image

Representative image

  • bselive
  • nselive
Todays L/H

A day after the moratorium on Yes Bank was lifted, many of its branches bore a deserted look, partly amid fear of coronavirus infection. The bank resumed full operations from 6 pm on March 18, after being under moratorium for 13 days.

PTI visited four branches of the private lender - two in the central suburb and two in Navi Mumbai, where hardly one to two customers were seen.

“Panic has reduced as we know that this bank is not going to shut shop. The presence of an investor like SBI has given us confidence,” said a customer.

On Wednesday evening, the bank in a tweet said all its banking services were operational and customers would be able to experience the full suite of services.

It has also extended banking hours for three days starting today.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

Under the Yes Bank reconstruction scheme, SBI along with seven financial institutions infused Rs 10,000 crore in the private lender.

SBI alone has invested Rs 6,050 crore into the bank.

Other investors include ICICI Bank and HDFC (Rs 1,000 crore each) Axis Bank (Rs 600 crore), Kotak Mahindra Bank (Rs 500 crore), Bandhan Bank, Federal Bank (Rs 300 crore each) and IDFC First (Rs 250 crore).

The RBI had put restriction on the troubled lender on March 5, 2020, under which customers of the bank were allowed to withdraw up to Rs 50,000 till April 3.

The government notified the Yes Bank reconstruction scheme last week.
first published: Mar 19, 2020 12:45 pm

stay updated

Get Daily News on your Browser