Yes Bank debit card holders can now withdraw from ATMs

In a late-night tweet, Yes Bank informed its customers on March 7 that they can now withdraw money from ATMs using their debit cards.

This came days after the Reserve Bank of India (RBI) took control of the crisis-hit bank.

In the tweet, Yes Bank said: “You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your patience.”

On March 5, RBI has capped the withdrawal limit to Rs 50,000 per account per month.

The RBI’s directive which came into effect from 6.00 am on March 6 will be effective till April 3.

The tweet came as a respite to many of Yes Bank’s customers who have been queuing up at the bank to withdraw their money.

The Enforcement Directorate (ED) on March 8 arrested Rana Kapoor, the former MD and CEO of Yes Bank. He was arrested after being questioned by ED officials for around 29 hours.

The central agency conducted searches at Kapoor's Mumbai residence Samudra Mahal late on the evening of March 6. He was then called in for questioning at the ED's zonal office in Mumbai.

Kapoor is being investigated in the alleged irregularities in the investment of over Rs 4,100 crore Employees’ Provident Fund (EPF) of Uttar Pradesh Power Corporation (UPPCL), the state-owned power firm, in the scam-tainted Dewan Housing Finance Corporation (DHFL). The investments date back to a period between March 2017 and December 2018.

On March 5, RBI had superseded the Yes Bank’s board with immediate effect. Former State Bank of India (SBI) CFO Prashant Kumar was appointed as the bank administrator.