New Delhi: The bank’s net and mobile banking services have also been impacted after the government imposed a ban on Yes Bank and set a withdrawal limit. Net and mobile banking service has been stopped and fixed amount is not being transferred to any other account. This happened at 9 pm on Thursday night. Since then the customers of Yes Bank are quite upset. ATM shutters are closed. If an ATM is open somewhere, there are long queues.
On the recommendation of the Reserve Bank of India, the government has banned Yes Bank from March 5 to April 3. This order has come into effect from 6 pm on Thursday evening. According to the new order, customers will be able to withdraw only Rs 50,000 from their account in a month.
The central bank has also dissolved the board of Yes Bank and appointed Prashant Kumar, former deputy managing director and CFO of State Bank of India (SBI) as administrator. The RBI said in a statement, “The central bank has come to the conclusion that there is no option but to impose restrictions under Section 45 of the Banking Regulation Act, 1949 on the lack of credible revival scheme, public interest and interest of depositors.”