Yes Bank to resume full banking services: Yes Bank customers can avail full banking services from March 19(Thursday). The bank Outward NEFT, IMPS and RTGS services will also resume.
A massive relief for customers, crisis-hit Yes Bank on Monday announced that it’s all banking operations – banking and digital services would resume after 6 pm from March 18, 2020.
The bank itself has tweeted (on the Yes bank official website)- that, “We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services. You will also be able to access all our digital services & platforms.
It has also stated that- ”From Wednesday evening, you (Yes bank customer) will be able to withdraw more than ₹50,000 from ATMs or even do online transfers using NEFT, IMPS and RTGS. “The limits for transactions across digital channels will continue to remain what they were prior to the imposition of the moratorium. However, from March 19, 2020 post commencement of banking hours, transactions at branches will not have any limits.
The Banking glitch is finally being resolved-as per the sources where the bank UPI Service was stopped since March 5, 2020.
Yes Bank share price surged 58 percent intraday on March 16 after the government notified a rescue plan for the private sector lender led by State Bank of India (SBI) and others.
In a plan to bail-out Yes Bank, India’s largest public-sector bank, State Bank of India will invest Rs 6,250 crore picking-up 650 crore shares or 49 percent stake in the reconstructed bank. HDFC and ICICI Bank will both invest Rs 1,000 crore picking up equity in excess of 5 percent. Axis Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank and IDFC Bank, too will invest in Yes Bank.
The trouble brewing at Yes Bank became clearer on Saturday night when the lender posted its delayed third-quarter results for this fiscal, posting a record Rs 18,500 crore loss. Yes Bank lost more than Rs 40,000 crore worth deposits since the end of September 2019. The Bank had Rs 40,709 worth bad loans on its books as on December 31.
