New Delhi: Yes Bank will resume its banking services from 6 pm on Wednesday after Reserve Bank of India (RBI) had imposed moratorium on March 5 in view of its poor financial health due to bad loans.
Prashant Kumar, administrator of the bank had said, “Our customers will be able to enjoy all the services available before the moratorium. There is absolutely no issue on the liquidity side from Yes Bank. All our ATMs are full of cash.”
“Complete normalcy will be restored. All branches and employees are ready. If there is too much rush of depositors, the bank branches will remain open on weekends as well, he added.
“Only one-third of our customers have withdrawn Rs 50,000 during the moratorium. The customer feedback is that they do not feel the need to withdraw money from the bank. We have had higher inflows than outflows in the last few days,” Kumar said.
He said that entire inflow of NEFT, RTGS and IMPS services have been made available in the bank, adding that Yes Bank’s team has started communicating with customers.
At the same time, the SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.