Here's some relief for YES Bank customers

The YES Bank has allowed its credit card customers to clear their dues and make loan repayments from other bank accounts. The development comes a day after its newly appointed administrator, Prashant Kumar, said that the moratorium on withdrawals could be lifted by Saturday. He also added that the bank is working towards restoring full services for its customers.The RBI had capped withdrawals from YES Bank at Rs 50,000 and put the bank under moratorium for a month as it struggled to meet capital requirements. The central bank also appointed Prashant Kumar as the administrator. Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan o… https://t.co/22Nh7iuAwe— YES BANK (@YESBANK) 1583816792000 It is also working on a draft resolution plan according to which the SBI may take over 49 per cent of YES Bank's equity at Rs 10 a piece. The regulator is likely to submit the revival plan at the earliest with the government for its approval.

from Economic Times https://ift.tt/2TMFHIk