Unthinkable has happened. Stupid Modi Govt finally restricted depositors of yesbank to withdraw amount upto 50k, without seeking RBI’s approval. That’s why they made an IAS as a governor. Shame.
https://m.economictimes.com/industry/banking/fi...
Edit: update http://egazette.nic.in/WriteReadData/2020/2165....
Edit:
MINISTRY OF FINANCE
(Department of Financial Services)
(BANKING DIVISION)
NOTIFICATION
New Delhi, the 5th March, 2020
S.O. 993(E).—In exercise of the powers conferred by sub-section (2) of section 45 of the
Banking Regulation Act, 1949 (10 of 1949), the Central Government, after considering an application
made by the Reserve Bank of India under sub-section (1) of that section, hereby makes an Order of
Moratorium in respect of the Yes Bank Limited, Mumbai, Maharashtra for the period from 18:00 hrs on
March 5, 2020 up to and inclusive of April 3, 2020 and hereby stays the commencement or continuance
of all actions and proceedings against that banking company during the period of moratorium, subject to
the condition that such stay shall not in any manner prejudice the exercise by the Central Government of
its powers under clause (b) of sub-section (4) of section 35 of the said Act or the exercise by the Reserve
Bank of India of its powers under section 38 of the said Act.
2. The Central Government hereby also directs that during the period of moratorium, the Yes Bank
Limited, Mumbai, Maharashtra (the said banking company) shall not, without the permission in writing of
the Reserve Bank of India,—
(a) make, in the aggregate, payment to a depositor of a sum exceeding Rs. 50,000/- (Rupees fifty
thousand only) lying to his credit, in any savings, current or any other deposit account, by
whatever name called:
Provided that if a depositor maintains more than one account in the same capacity and in the
same right, the total amount payable from all the accounts together shall not exceed the limit
indicated above:
Provided further that wherever such depositor is having dues payable to the bank in any manner,
either as a borrower or surety, the amount payable to such depositor shall be made after
adjusting the relevant borrowal accounts;
(b) make, in the aggregate, payment to any creditor exceeding a sum of Rs. 50,000/- (Rupees fifty
thousand only) if not otherwise provided in this order, so however that this shall not affect
making of payment of amounts towards any drafts or pay orders issued by the said banking
company and remaining unpaid on the date on which the order of moratorium comes into force,
or in paying the proceeds of the bills received for collection on or before the 5th March, 2020.
3. Without prejudice to the conditions stipulated in paragraph 2(a) of this Order in relation to
payment to any depositor of the said banking company, the Reserve Bank may by a general or special
order, permit the said banking company to allow payment to its depositors an amount in excess of
Rs. 50,000/- (Rupees fifty thousand only) to meet unforeseen expenses, as under:
(i) in connection with the medical treatment of the depositor or any person actually dependent on
him;
(ii) towards the cost of higher education of the depositor or any person actually dependent on him
for education in India or outside India;
(iii) 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;
(iv) in connection with any other unavoidable emergency:
Provided that the amount so allowed to be paid out of the balance lying to the credit of the depositor—
(a) shall be reckoned towards the payment due to him under any scheme of reconstruction or
amalgamation as may be sanctioned by any competent authority in relation to the said
banking company and subject to such conditions as may be provided under such scheme
about appropriation of any payment made to a depositor of the said banking company before
or on the coming into force of the scheme; and
(b) shall not exceed the sum of Rs. 5,00,000/- (Rupees five lakh only) or the actual balance
lying to the credit of the account of such depositor, whichever is less.
4. The Central Government hereby also directs that the banking company may, during the period of
the moratorium imposed on it, make the following further payments, namely, the amounts for repaying
loans or advances granted against Government securities or other securities, to the banking company by
the Reserve Bank of India or the State Bank of India or by any other bank and remaining unpaid on the
date on which this Order comes into force.
5. The Central Government hereby further directs that during the period of moratorium, the Yes Bank
Limited shall be permitted to operate its accounts with the Reserve Bank of India or with any other bank
for the purpose of making the payments aforesaid, provided that nothing in this Order shall be deemed to
require the Reserve Bank of India or any other bank aforesaid to satisfy itself that the conditions imposed
by this Order are being observed before any amounts are released in favour of the Yes Bank Limited.
6. The Central Government hereby also directs that the Yes Bank Limited may release or deliver goods
or securities which have been pledged, hypothecated or mortgaged or otherwise charged to it against any
loan, cash credit or overdraft:
(i) in any case in which full payment towards all the amounts due from the borrower or borrowers,
as the case may be, has been received by it, unconditionally; and
(ii) in any other case, to such an extent as may be necessary or possible, without reducing the
proportions of the margins on the said goods or securities below the stipulated proportions or the
proportions which were maintained before this Order came into force, whichever may be higher.
[F. No. 7/19/2020-BOA-1]
AMIT AGRAWAL, Jt. Secy.
Modi will destroy rest of the economy in next 3 years of his term. At least people realise what he has done to the country. But you will find brainwashed Hindus all over the FB and social media spewing venom in the name religion. I feel sorry for our Muslim brothers who are at the receiving end. Hindus like me who voted for me are now against Modi. Enough is enough!
May be it’s a wake-up call for account holders of hdfc, icici and axis. Nothing is safe under this govt and with such lawlessness in this country.
Will take out cash from my HDFC tomorrow. Can’t afford to wait for another wake-up call.
PMC, Yes…. Who knows who’s next
Axis would be in the same ship if they had not raised the funds recently. if more bad loans, they will end up like yes Bank. They are chasing all their customers for CCs.
Any analysis @BubbleBoyChickenLittle @rogerthat
You guys don’t even have correct knowledge. Half knowledge is dangerous than no knowledge. This is till 3rd of april and no bank can pay all the money of all the account holders at one single time.
Hi… May be you call me bhagat or any thing but in India, bank licence is very valueble and yes bank was unable to raise fund in various attempt given to them. It will create bad image in front of world if yes bank fail. Hence RBI taken this step and in next 1 month they will revive itby any plan. Please see and read RBI circular carefully without blaming anyone and with full use of your mind.
Yes bank is pvt sector bank, I don’t get it it was mounting on bad loans and this does not happen in few days. And the board of directors were sleeping or filling their own pockets. Now rbi intervened in between to either revive it or merge it for betterment of customers. What is wrong in this?
Ps: I am not favouring anyone here, just asking simple question.
Fault is Yes Bank’s, partly. SBI, LIC were brought forward to buy it, and who is asking em to buy yesbank at 2₹, according to ratings pharms, is not unclear. Govt is not doing things in a transparent manner. Actually this Govt is trying to blame every blame on Congress n when shit comes, it is trying to get behind some corona virus stuff/ riot stuff. Citizens deserve to know.
I ll not do the rndi rona now. I honestly believe, it could have done in a clean way, not like this.
Cash Modiji Ko pasand nahi.
Bank mai paise Mallya, Nirav Modi or Rana Kapoor ko pasand nahi. 
Toh cash rakhe to rakhe kaha.
Bitcoin kharid lo, isliye kal crypto currency legal kar diyaa.
Now Which is the safest option for Indians to keep their money safe?
People :- Banking sector is falling.
RBI :- Yes we are watching closely. 
God, I have 2 lacs in Yes Bank…Now what will happen to my money ?? I just checked if I can transfer some money to other bank & both their mobile banking & netbanking services are down…Is there any chance to get my money back from Yes Bank or it’s gone forever ?? 
@ithehappy Nothing in this world is 100%,sure Yes bank is pvt & this happened but if we are talking about numbers then BSNL or Air India alone match/exceed Yes bank total losses & that loss came from every Indian who pay taxes/buy stuff with taxes in price compared to Yes Bank whose total investors may be a few lakhs.
Bank was almost about to finalize the capital raising process (For maintaining CET – 1 Ratio / growth) and their Q3 Result by 14th March as of now the BOD superceded they are not viable anymore.
RBI is handling the situation in such a pathetic way
Yesbank is not a small and co-operative bank should have been handled better (now it will give a very bad message to pvt banks depositors as trust has been compromised)
PCA should have been imposed instead of Moratorium
Depositors are always protected (5L insurance for each bank branch by DICGC) but What about the shareholders.
Yesbank has More than 15 Lakh Retail shareholders.
(If in case amalgamation happen then these peoples will get nothing)
Lets see with what solution RBI will come out after creating such a unnecessary panic for 30D banks take decades to build trust and by these decisions its destroyed overnight
(bachi hui nabj thi vo bhi khtm Najar aa rhi h ab bank ki)
Yesbank is a very nice fintech platform in terms of UPI and other services and it holds 45% of the UPI transactions.
We should support it to protect the interest of depositors, investors, economy, pvt banks and all stakeholders.
Today no one can stop bloodbath in the market
Govt thinks they can make digital India by breaking the trust of citizens in banks
Questions on Governance
keeping cash is risky (de-monetization)
Keeping money in banks is risky (PMC & YB Crisis)
Running SME business is complicated (GST)
Eventually in the End public had to pay for the bad Governance and everything
The last three lines are wonderful.
Basically they want us to live on paycheck to paycheck. With Yes bank and Voda-Idea saga debt funds are going to hit badly and FM goes on speaking about robust corporate bond market. Corporate governance in India is a myth and still they harp for privatization of excellent profit making PSUs.
Received this message from phonepe. Looks like phonepe merchants will also face problem for some days.
Ab Sir ji ne kiya hai means kuch soch samaj ke hi kiye honge. Chill karo yrr 
Bhai log tension nahi lene ka. Bhale hi ekdin road me q na aa jaye. Aakhir desh ka bhala hai isme. 
Abhi abhi Sir ji ne bole hai: Every penny lost by an Indian citizen due to collapse of the bank will be treated as a nationalist contribution towards making India a 5 trillion $ economy.
Now be happy.
Socialist contribution bhau. Sala pure socialist countries me hi eisa hota hai. Nationalist toh bass brand name hai. 🤪🤪🤣
Why they are not allowing even 25000 withdrawal through net banking
ek aur congress ka bewakuf chamcha. 
RBI supersedes board of Yes Bank, caps withdrawals at Rs 50,000
isme govt. ki kya galti, Yes Bank aise bhi private bank he, last 1 year se pata tha yeh hoga. pichle 1 year se news me tha Yes Bank me paise maat rakho but sab jante hue rakhoge toh galti tumhara he.
Arey bhai, jaab be me post kiya tha taab taak development wahi tha.
Baat toh sahi bola, galati toh yesbank ki hi hai. But dikkat ye hai ki Yesbank Nifty 50 company hai, n Yes Bank ke saath jo hua usske liye thoda bahat Govt controlled RBI responsible bhi hai. 🙂
I don’t have any money in “No(Yes) Bank”. I have made money in the past by buying it 32 n selling it at 37 in recent days.
You should have seen yesterday’s development. First talk of stake sales comes, stock spiked for 32%, 29 CE spiked for 196% I think, bole toh 44000 kaa profit,10:20 AM se 3:30 pm taak. Fir khabar ata hai sbi n lic gonna buy for 2₹/share. Fir khabar ata hai ki Govt has restricted yes bank, then after RBI has superseded Board. Right. Me bhai chamcha giri nai kar rha, ek frustrated citizen ki bhadas ko byakhya kiya bass apni jubani se. I follow you, I hope small incidents like this don’t dent our friendship.
This is 2nd time any schedule bank is put under restriction. Last time ot was GTB which kept looting people’s money from 2001 to 2004 while India was shining. Every newspaper reported for 3 years just like 2 years ago yes bank deeds were out in public domain. But like Atal Bihari, chowkidar kept sleeping on it. Then MMS had to merge it with OBC bank to save people, now RBI came to rescue.
Scientists chandrayaan banate hain lekin credit koi aur le jata hai. Dusra chandrayaan flop ho jaaye to isro se lekar grah dasha ki galti. Ye log nahi sudhrenge.
Advice: Keeping the current situation in view from tomorrow onwards keep all your money in different banks till the insured amount. Don’t delay you never know.
50,000 withdrawal limit —> Any idea how can I withdraw coz the app isn’t responding and none of the upi app is working.
How do I pay for my home loans, credit cards and all the expenses in the start of the month when all my money is stuck in the bank. Wtf 
Bhai, don’t waste anytime. Rush to your local branch at 9:00am/8:45am. Be first in the line. 🙂🙂🙂
Stuck with 20,000 in Saving Account, 6000 in Yes Pay wallet . and 10k with Yes bank Stocks . Stocks to gaya hi. How to save my saving balance and wallet balance , I tried for wallet to bank transfer , money deducted from Wallet but did not come to bank . I tried mobile banking , netbanking and all are showing temporary down .
ATM withdrawal from yes bank rejected , ATM withdrawal from other bank also denied
Reach branch with all needful things, and convince them for giving last penny left with bank. Shares God kaa naam lo. Kuch nahi ho sakta
Just what I guessed. Phonepe is dow now guys. 
That’s why I was asking for alterantives to phonepe.
Withdrawal from any electronic channel is completely stopped only way is branch withdrawal
Now I am worried about my entire saving with HDFC bank . Should I transfer all my savings to SBI ?
Who knows kisi din 8 pm pe SBI ko bhi kuchh jhatka de diya Jaye
8 ke thaath is unpredictable
Bloodbath day today 
Kisi zalim fakeer ne kaha that 1 rupee = 1$ hoga magar ye Kya kardiya
Yes. Apna kaam ho gaya. 21692 Intraday profit. Thanks to indigo & Justdial. 
my loss increased by -50% today in stocks holding . what a day 
guys where is yespay wallet accpeted for GV buying ?
![[PriceDrop] Instamart Rishta Barnyard Millet Dosa Batter 1 kg [location specific]](https://cdn0.desidime.com/topics/photos/1882999/medium/Screenshot2024-11-22at9.20.52PM.png?1732290667)
Quick, we need more riots to divert attention
Unnecessary panic created by jokers who don’t know how to run economy. Didn’t learn lesson from PMC. Such a big bank and handled such a pathetic way. Well they have to outperform own benchmark after demon, gst, nrc debacle.
Abhi abhi Sir ji ne bole hai: Every penny lost by an Indian citizen due to collapse of the bank will be treated as a nationalist contribution towards making India a 5 trillion $ economy.
Now be happy.