Customers can withdraw money from ATMs using debit cards, tweets Yes Bank

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New Delhi, March 8, 2020: In a major relief for thousands of Yes Bank customers, the crisis-hit bank on Saturday tweeted that its customers that they can now withdraw money from both at Yes Bank and other bank ATMs using their debit cards. The bank also thanked its customers for showing patience.

"You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your patience," tweeted Yes Bank.

It is to be noted that the Reserve Bank of India has capped the withdrawal limit to Rs 50,000 per account per month for Yes Bank customers. The directive of RBI came into effect from 6 am on Friday (March 6) and it will remain in place till April 3, 2020.

Meanwhile, the Enforcement Directorate (ED)  arrested Yes Bank founder Rana Kapoor in money laundering case in the wee hours of Sunday (March 8,2020). Rana was arrested after hours of questioning by the ED officials.

Earlier on Friday (March 6, 2020), the agency conducted raids at Rana Kapoor`s residence located in the upscale ’Samudra Mahal’ complex in the Worli area, Mumbai and registered a case under the Prevention of Money Laundering Act (PMLA).

The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned non-performing assets (NPAs), said ED.

As per the RBI’s draft reconstruction scheme for Yes Bank, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. Addressing media SBI chairman Rajnish Kumar had said that the raid being conducted at Rana Kapoor’s residence will have no impact on Yes Bank’s image.

SBI will submit its final report to RBI on Monday on acquiring stake in the crisis-hit Yes Bank.

Courtesy: Zee News