Moratorium imposed on Yes Bank, withdrawals capped at Rs 50,000

The Reserve Bank of India (RBI) on Thursday said a "moratorium" has been imposed on Yes Bank stressing that the bank's financial capability has undergone a steady decline largely due to inability of the bank to raise capital. "The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank. The Reserve Bank has been in constant engagement with the bank's management to find ways to strengthen its balance sheet and liquidity," the statement read.