YES Bank debit card holders can withdraw from ATMs

MUMBAI: Easing troubles faced by several customers, private lender Yes Bank announced late on Saturday evening that its systems were operational and its users could make withdrawals using its debit cards and ATMs.“You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your patience,” the bank tweeted Saturday evening. You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your p… https://t.co/nlIccMBH6E— YES BANK (@YESBANK) 1583603658000 The central bank on Thursday imposed a moratorium on Yes Bank that capped deposit withhdrawals at Rs. 50,000 per person. It relaxed the limit for emergencies like medical needs, payment for higher education, or marriage expenses. That is set at Rs. 5 lakh. Kumar assuaged deposit holder worries and said that there monies were safe.The bank reiterated to its customers and they could withdraw only Rs 50,000 during the moratorium period.“The prescribed limit of Rs. 50000 is an aggregate limit for the entire moratorium period i.e. w.e.f. 6:00 pm on 05.03.2020 till April 3rd 2020, the customers will be allowed to withdraw a total of Rs. 50000/- (through all channels and across all products),” the bank said responding to a customer’s query on twitter. We would like to inform you that our ATMs are now functional. You can locate the ATM nearest to you here:… https://t.co/JkV50RPRvl— YES BANK (@YESBANK) 1583508731000 The Reserve Bank of India has come up with a restructuring plan to give a new life to Yes Bank that would entail equity investment by the State Bank of India, but that would keep these entities separate leaving scope for the state-run lender to exit the investment when it turns profitable.

from Economic Times https://ift.tt/3aDe8YN