The Central Government has imposed a moratorium on Yes Bank effective today, restricting the withdrawal of deposits to Rs 50,000. Any withdrawal over the amount will require the permission of the Reserve Bank of India.
See Also : How much money can be withdraw from Yes Bank
The moratorium will be applicable from 6:00 pm on March 5 to April 3, 2020.
So Don’t be Panic
Start Date : 5th March, 2020
End Date : 3rd April, 2020
Time : 6:00 pm
The bank will not be allowed to pay depositors a sum exceeding Rs.50,000/- lying in any savings, current or any other deposit account, the government said in a notification.