RBI takes Yes Bank control, withdrawals capped at Rs 50,000

Yes Bank was placed under a "moratorium" on late Thursday, with the RBI (Reserve Bank of India) capping depositor withdrawals at Rs 50,000 per account. The central bank has imposed a moratorium on capital-starved Yes Bank. RBI, in a notification, has said, that the financial position of Yes Bank has undergone a steady decline due to the inability to raise capital to address potential loan losses and resultant downgrades.