Long queues seen at Yes Bank ATM after RBI choice, on-line banking downside too

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

After the choice of the Reserve Bank of India to cease withdrawals of greater than 50 thousand from Yes Bank, the financial institution has obtained a giant view in ATMs. According to a report, traces continued in ATMs in Mumbai until late evening. Internet banking can also be having issues with the financial institution of the report, even persons are not capable of do on-line banking.

According to a report, an ATM in South Mumbai's Hornman Circle was closed after the group. The guard at obligation mentioned that the machine was not operational earlier than being reported to work late within the night and shut it down after 10 pm. Ordered to do. Similarly, an ATM within the suburban Chembur residential space was giving money however there was a protracted queue right here too. <! –

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Private lender Yes Bank has change into the primary non-public financial institution to return to the brink of drowning. The Reserve Bank of India (RBI) was already going through the shortcomings of banks like Punjab National Bank (PNB) and Punjab and Maharashtra Cooperative Bank (PMC). Yes Bank was granted banking license with Kotak Mahindra Bank in 2003-04.

Net and cellular banking providers had been additionally affected after this very best of RBI. On the suggestions of RBI, the federal government has stopped the withdrawal of greater than 50 thousand from Yes Bank from March 5 to April 3. RBI has additionally separated the board of Yes Bank and appointed Prashant Kumar, former Deputy Managing Director and CFO of State Bank of India (SBI) as administrator.

Yes financial institution on the verge of sinking, RBI prohibits withdrawal of greater than 50 thousand

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