Members Only
lock close icon

What Next For Yes Bank? How Can Its Customers Recover Their Money?

The Reserve Bank of India also announced that it had superseded Yes Bank’s board of directors, for the next month.

Vishnu Gopinath
Podcast
Published:
Depositors in Yes Bank received a rude shock on the evening of 5 March. The RBI placed a withdrawal limit on depositors, that they could only withdraw Rs 50,000 from their accounts in the next one month.
i
Depositors in Yes Bank received a rude shock on the evening of 5 March. The RBI placed a withdrawal limit on depositors, that they could only withdraw Rs 50,000 from their accounts in the next one month.
(Image: Altered by The Quint)

advertisement

Depositors in Yes Bank received a rude shock on the evening of 5 March. The RBI placed a withdrawal limit on depositors, that they could only withdraw Rs 50,000 from their accounts in the next one month.

The Reserve Bank of India also announced that it had superseded Yes Bank’s board of directors, for the next one month, and that this situation would be resolved soon.

But barely eight months ago, the government did the same thing with PMC bank, imposing a withdrawal limit on depositors because of the bank’s failure, which led to panic and thousands of citizens losing access to their savings.

So is Yes Bank in the same boat? What can you do if you have an account in Yes Bank? And how did we end up here?

(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)

Become a Member to unlock
  • Access to all paywalled content on site
  • Ad-free experience across The Quint
  • Early previews of our Special Projects
Continue

Published: undefined

ADVERTISEMENT
SCROLL FOR NEXT