Yes bank customers will be able to access full banking services from wednesday evening, as the moratorium will be lifted earlier. The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) had on march 5 put a moratorium on Yes bank restricting withdrawals to Rs 50,000 per depositor till april 3. However, the government in a notification on saturday said the moratorium will be lifted by 18:00 hrs on march 18.

 

Yes bank said "We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services". Furthermore the government on saturday notified the reconstruction plan for cash-strapped Yes bank and said the moratorium will be lifted by 18:00 hrs on march 18, much earlier than the earlier date of april 3.

 

The notification 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 lender has posted a net loss of Rs 18,654 crore for third quarter ended december 31 due to huge provisioning for bad loans. It had posted a profit of Rs 1,001.8 crore during december quarter of 2018-19. 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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