Yes Bank on Monday, 16 March, announced that it will resume full banking services from 6 pm on Wednesday, 18 March, across all its 1,132 branches in India.
It further said that customers will also be able to access all their digital services and platforms.
The announcement comes after the crisis brewing at Yes Bank – India’s fourth largest private bank – came to a dramatic head, with the RBI placing it under moratorium, superseding its board of directors and limiting regular withdrawals to Rs 50,000 a month. According to RBI, the bank’s financial situation had seriously deteriorated due to governance issues and practices in recent years.
As part of the Cabinet-approved reconstruction scheme for Yes Bank, public lender State Bank of India, along with several private banks, announced that it will invest considerable amounts into the crisis-hit lender.
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