After the scare of collapse like the PMC bank, the Yes bank is back on its feet. The withdrawal limit restrictions on Yes bank customers are lifted from today. Under the instructions of RBI (Reserve Bank of India) the customers of the bank were restricted to withdraw not more than INR 50,000 (irrespective of the number of accounts in the bank).
The restrictions were earlier placed till April 3rd. However, under the government’s crisis management plan banks led by SBI poured in investments. From today onwards the ATMs would be filled with cash as normal and the branches would function as usual. The moratorium was lifted from 6 pm tomorrow.
“All ATMs are full with cash, all branches have an adequate supply of cash. All our customers will be able to enjoy the entire banking service“, said Yes Bank Administrator Prashant Kumar. Kumar also said that the bank does not have any liquidity issues.
Highlighting the outflow of cash during the period of restrictions he said that only 1/3rd of their customers withdrew Rs 50,000 during the moratorium. “Customers’ feedback is that they don’t feel the need to withdraw money from the bank. We have had higher inflows than outflows in the last few days,” added Kumar.