Yes Bank Resumed All Banking Services After 13 Days

After 13 days of hardship for customers, Yes Bank said it has resumed all banking services as the moratorium imposed on the lender was lifted on Wednesday evening.

Besides, the lender would extend banking time for three days starting Thursday.

Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.

“Our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation. #YESforYOU @RBI @FinMinIndia,” the lender said in a tweet.

There are also concerns in certain quarters that Yes Bank could see significant amount of deposit withdrawals.

“To serve you better, our branches will open one hour earlier at 08:30 hours from March 19 to 21, 2020. We have also extended banking hours across branches for our senior citizen customers, from March 19 to March 27, 2020, 16:30 hours to 17:30 hours,” the bank said in another tweet.

On March 5, the Reserve Bank of India had imposed a moratorium as well as superseded the board of the then struggling Yes Bank. Deposit withdrawals were capped at Rs 50,000 per account apart from other restrictions.

Under the Yes Bank reconstruction scheme, SBI and seven financial institutions, including private sector lenders, have infused around Rs 10,000 crore in the bank.

Yes Bank’s deposit base eroded by Rs 72,000 crore to Rs 1.37 lakh crore as of March 5, 2020. The same was at Rs 2.09 lakh crore as of December 31, 2019, as per data shared by the bank last Friday.

On Tuesday, then Yes Bank CEO-Designate Prashant Kumar said the private sector lender has taken adequate steps to ensure availability of funds for customers.