Yes Bank – The Full Story Uncovered
The first step that RBI took was to put a moratorium on Yes Bank and capping the money which can be withdrawn by depositors at Rs.50,000 per month only and in emergency cases up to Rs. 5 lakh after going through certain procedures and meeting the required terms and conditions. As, there were threats that if depositors pull their money immediately from the bank fearing from the Red Alert that RBI has raised, the bank might become more empty and the situation of the bank might further deteriorate.
Yes, Bank is the first Indian Private bank which has been put on moratorium by RBI. However now, the government claims to uplift the moratorium on Wednesday at 6 P.M. RBI also drafted a plan which involved some more measures to help Yes Bank from Crisis. A government bailout plan worth Rs.20,000 crore for Yes Bank will be prepared by SBI.
