'Yes Bank to start operations, services from tomorrow'

Yes Bank promoter Rana Kapoor was produced in a court in Mumbai on Monday. Pic/PTI

Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to '50,000 per depositor till April 3."

The government in a notification on Saturday said the moratorium would be lifted by 18:00 hours on March 18. "We will resume full banking services from Wednesday, March 18, 2020, 18:00 hours. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hours to experience our suite of services," Yes Bank said in a tweet. "You will also be able to access all our digital services & platforms @RBI @FinMinIndia," it said. "The order of moratorium on the reconstructed bank issued by the government...shall cease to have effect on the third working day at 18:00 hours from the date of commencement of this scheme," the notification said.

The lender has posted a net loss of R18,654 crore for third quarter which ended December 31 due to huge provisioning for bad loans. It had posted a profit of R1,001.8 crore during December quarter of 2018-19. "You will be able to use your Yes Bank cards and accounts across wallets like Paytm, Amazon Pay and Freecharge among others from March 18, 2020, 18:00 hours," the bank said in an FAQ on its website. Besides, the customers have been allowed for inward RTGS/NEFT/IMPS based transaction services to pay for their Yes Bank credit card bills and loan EMIs from any bank accounts including Yes Bank accounts.

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