Yes Bank to resume banking services from 6 pm today


Yes Bank will resume full banking services from 6 pm on today onwards. On March 5, the Reserve Bank of India (RBI) had imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3 in view of its poor financial health due to bad loans. On March 13, the Union Cabinet approved a reconstruction scheme for Yes Bank as proposed by the RBI. On March 16, Yes Bank approved the reconstitution plan, appointing Prashant Kumar as the Chief Executive Officer and Managing Director.