{"id":3684,"date":"2020-03-05T17:10:24","date_gmt":"2020-03-05T17:10:24","guid":{"rendered":"http:\/\/www.yuvapragatee.com\/?p=3684"},"modified":"2020-03-05T17:10:27","modified_gmt":"2020-03-05T17:10:27","slug":"now-its-time-for-yes-bank-rbi-imposes-moratorium-on-yes-bank-caps-withdrawals-at-%e2%82%b950000","status":"publish","type":"post","link":"https:\/\/www.yuvapragatee.com\/?p=3684","title":{"rendered":"Now it&#8217;s time for Yes Bank, RBI imposes moratorium on Yes Bank; caps withdrawals at \u20b950,000"},"content":{"rendered":"\n<p>The Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank and capped withdrawals at&nbsp;\u20b950,000 per account till further orders.<\/p>\n\n\n\n<p>The board of Yes Bank has also been superseded with immediate effect, the Reserve Bank of India (RBI) said in a late evening statement.<\/p>\n\n\n\n<p>The RBI also assured the depositors of the bank that their interest will be fully protected and there is no need to panic.<\/p>\n\n\n\n<p>Former SBI CFO Prashant Kumar has been appointed as administrator for Yes Bank.<\/p>\n\n\n\n<p>The latest development comes six months after the regulator did the same with the city-based cooperative lender PMC Bank after a large scam was unearthed.<\/p>\n\n\n\n<p>Yes Bank has been grappling with mounting bad loans.<\/p>\n\n\n\n<p>Earlier in the day, sources said SBI along with some other financial institutions would bail out Yes Bank, with the government giving the go-ahead.<\/p>\n\n\n\n<p><strong><br>However, the depositors will be allowed to withdraw more than&nbsp;\u20b950,000 under the following conditions<em>:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>In connection with the medical treatment of the depositor or any person actually dependent on him.Yes<\/li><li>Towards the cost of higher education of the depositor or any person actually dependent on him for education in India or outside India.<\/li><li>To pay obligatory expenses in connection with marriage or other ceremonies of the depositor or his children or of any other person actually dependent upon him.<\/li><li>In connection with any other unavoidable emergency.<\/li><\/ul>\n\n\n\n<p>Source: Live Mint<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank and capped withdrawals at&nbsp;\u20b950,000 per account till further orders. The board of Yes Bank has also been superseded with immediate effect, the Reserve Bank of India (RBI) said in a late evening statement. The RBI also assured the depositors of the bank [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,17],"tags":[],"class_list":["post-3684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/posts\/3684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3684"}],"version-history":[{"count":1,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/posts\/3684\/revisions"}],"predecessor-version":[{"id":3686,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/posts\/3684\/revisions\/3686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=\/wp\/v2\/media\/3685"}],"wp:attachment":[{"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yuvapragatee.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}