Yes Bank Allows Customers To Withdraw Money At Other ATMs Too

Yes Bank Crisis: In a big relief to the customers of Yes Bank, they can now withdraw the money from other ATMs as well.

Customers of Yes Bank queue up to withdraw money from their accounts at an ATM kiosk in Mumbai. (Image: AFP)

New Delhi: In a major relief to the beleaguered account-holders in Yes Bank, the bank allowed its customers to withdraw money from other bank ATMs as well. Earlier, the bank had made the same announcement on Friday but had soon retracted the step. The crisis-hit bank announced on Twitter: “You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your patience.” The bank has been placed under moratorium by Reserve Bank of India (RBI) and the withdrawal limit has been capped at Rs 50,000 till April 3. Soon as the news broke out, people could be seen standing in long queues outside ATMs to withdraw the daily limit.

You can now make withdrawals using your YES BANK Debit Card both at YES BANK and other bank ATMs. Thanks for your patience. @RBI @FinMinIndia

— YES BANK (@YESBANK) March 7, 2020

The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money laundering charges here in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said. Kapoor's arrest at the ED office in Ballard Estate followed over 20 hours of questioning by the central agency after it raided his residence on Friday night. The arrest comes after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs. Officials said Kapoor, 62, will be produced before a local court during the day to obtain custody. The investigating officer of the case had recorded Kapoor's statement under the PMLA when he was first interrogated on Friday night at his upscale residence in 'Samudra Mahal' complex in Worli area here. He was brought to the ED office on Saturday noon for a fresh round of questioning. On Saturday, the agency widened its probe in the case as the premises of Kapoor's three daughters in Delhi and Mumbai were searched to gather more information and evidence. On Thursday, the RBI said a moratorium has been imposed on Yes Bank, stressing that the bank's financial capability has undergone a steady decline largely due to the inability of the bank to raise capital. During the period of moratorium, the Yes Bank Ltd will not, without the permission in writing of the Reserve Bank of India, make in the aggregate, payment to a depositor of a sum exceeding Rs 50,000 lying to his credit in any savings, current or any other deposit account.