YES Bank on Monday said it will resume full operations from 6 pm on March 18. Assuaging concerns of its customers, who have not been able to withdraw more than ₹50,000 from their accounts, the bank said they could visit the branches from March 19.

“We will resume full banking services from March 18, 18:00 hours. Visit any of our 1,132 branches from March 19, post commencement of banking hours to experience our suite of services. You will also be able to access all our digital services and platforms,” the bank said in a tweet on Monday.

 

Emphasising that depositors’ money is absolutely safe in YES Bank, the RBI Governor Shaktikanta Das said the participation of banks, especially private sector ones, in the troubled bank’s reconstruction demonstrates the confidence of major players in the revival of the sector.

The Governor observed that YES Bank has enough liquidity and in case of requirement, the RBI would provide the necessary liquidity support. “So, that is a comforting factor for the depositors that the RBI will support YES Bank with liquidity if it is required,” said Das.

State Bank of India, six private sector banks — ICICI Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank and IDFC First Bank — and Housing Development Finance Corporation have collectively invested ₹10,000 crore in YES Bank.

Published on March 16, 2020