Yes Bank customers rush to ATMs in Mumbai after RBI caps withdrawal limit

Deccan Herald
Deccan Herald
  • 4 years ago
After Reserve Bank of India on Thursday imposed a month-long moratorium on Yes Bank citing ‘serious deterioration in its financial position’, capping the withdrawal limit at Rs 50000, depositors in Mumbai rushed to the ATMs for withdrawing the cash. During the period of moratorium, the Yes Bank Limited shall not, without the permission in writing of the Reserve Bank of India, make payment to a depositor of a sum exceeding Rs 50,000 lying to his credit, in any savings, current or any other deposit account.

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