'Yes Bank to start operations, services from tomorrow'

Updated: 17 March, 2020 11:47 IST | Agencies | New Delhi

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.

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

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

First Published: 17 March, 2020 10:53 IST

Sign up for all the latest news, top galleries and trending videos from Mid-day.com

Subscribe
loading image
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK