https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543037
i have two accounts in yes bank having 19k and 25k balance respectively…how to withdraw that without going to branch?
Govt limits 50000 withdrawal from yes bank
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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.
Top Comments
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543041
Yebank blocked all online way now 
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543039
Ab toh IDFC, AXIS , ICICI se bhi darr lag raha hai…kaun kitna ghotala (fraud) karke baitha hai pata nahi…
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543055
Not to blame anyone but why did people still have account or deposits with them? When a 400rs stock came to 40rs what were people waiting for? Wasn’t the writing on the wall? How tough was it to open an account in a different bank?
Also I could see people even discussing about yes bank stocks. I dont understand why us retail always try to go behind failing companies just because they have taken a huge plunge.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543073
I am the culprit. I was discussing about yesbank stock on an occasion with @Awake and @BubbleBoyChickenLittle . I made some money too. And bhai people are sheep. First sharks eat, then come the hyenas like me, in the end people are left with bones. And bahi since this is a scheduled commercial bank, insurance guaranty will be there. But it will be a real pain in ass. They should have rectified their course of action log time ago.
Take an example of my parents. I asked them repetitively to shift accounts from a cooperative bank, backed by Yes bank, to something safer. After a lot of arguments they finally acquiesced in my decision. Now my maa is like thanks beta, we are safe now. People are like that. Danda naa pade toh pith sidha ni hoga.
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543095
i think market will improve only after corona issue settles….
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543103
Media scares about 2% people die of only those who are identified (much more goes unidentifed as they don’t feel ill), but never shows that 98% are alive and kicking. The only fear is there is no medicine but than there’s no medicine for most cancers, aids and even diabities, only precautions are safety measures left. Does any media talks about 98%? No. Because fear sells. From politicians to gorepan ki cream to 99.99% germs mitaane wala saabun to insurance unwanted schemes and what not, every damn thing sells on fear. Some day this will be history no one will even talk about.
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543121
yes media is also talking about 98% people to take care of their habit and take precautions..coz there is no medicine
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543124
Stock market down is because of mostly corona virus. Even US share market is down and other countries too. and same has effect here.
https://www.nytimes.com/2020/03/05/business/sto...
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543132
See my above post.
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543134
UPI Down
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543138
Massoom bhakts
this is everywhere in India
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543234
Imagine the state of economy in the upcoming global recession. haha. people who made money should retire early
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543257
Good short sell from current levels?
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543263
I don’t know what got into me and two days ago transferred 60 k from my yes bank to safer bank leaving just 11k in yes. I just survived this..IDBI is another bank which looks unsafe right now
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543526
bro whats up with IDBI it was supposed to be made private 
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543279
I’m no expert but jin logo ne Phone Id par upi mandate set kiya tha Sbi Card IPO k liye un logo ka kya hoga?
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543307
It’s a mess. Nobody knows. Total panic. For SBI Cards : 
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543327
Nifty ETFs have to buy yes bank. Till yesterday, to understand with example, if every nifty share weighted 2%, ETF investing 10000 rs were getting 5/6 yes bank share (33×6 = 200) but today for same 2% they are buying 20-25-30 shares. And these shares will be useless after 27th March when Yes will be out of nifty (though chances are that it’ll be thrown out very soon). Hence some buying will continue. Then there are HNIs doing intraday. None who understand situation is buying it for lifetime because it doesn’t have time for life left.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543330
Bro, this thing crossed my mind bro.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543387
Dear Investor,
This is in reference to announcement made by RBI on 5 March, 2020, for YES Bank Ltd. We request you not to transfer any funds to beneficiary IBULLS using NEFT, RTGS, or IMPS facility through YES Bank with immediate effect.
Warm Regards,
Indiabulls Securities Limited
(Formerly Indiabulls Commodities Limited)
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543495
Lol. Next one going down will be Ibulls.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543425
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543437
🤣🤣🤣🤣
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543556
Security tightened at Yes Bank branches, ATMs in Mumbai
Security at Yes Bank headquarters, its branches and ATMs across Mumbai was tightened to avert any untoward incident, as hundreds of account holders of the crisis-hit private lender rushed to withdraw money, an official said on Friday. The RBI on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account. Account holders rushed to branches of the bank and their ATMs in panic to withdraw money on Friday morning, leading to chaos at many centres, including the one in south Mumbai’s Fort area.
“We have deployed police personnel outside the bank headquarters, its branch offices and ATM centres in the city to avert any kind of law and order issue,” a spokesperson of the Mumbai Police said. The police are constantly monitoring the situation and so far, no untoward incidents have been reported, he said. PTI
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543586
RBI asked Yesbank to shut its ATMs and only give cash to customer in their branches.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543613
Meanwhile yes bank branches are overcrowded customers are crying and and abusing
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543645
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543629
SBI board approves exploring ‘investment opportunity’ in YES Bank
https://www.business-standard.com/article/finan...
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543773
RBI announces scheme of reconstruction for Yes Bank. Authorised capital of Yes Bank shall stand altered to ₹5,000 cr, SBI to invest in recontructed bank for up to 49% stake
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543803
“The Investor bank shall agree to invest in the equity of the Reconstructed bank to the extent that post infusion it holds 49% shareholding in the Reconstructed bank at a price not less than Rs.10/- (Rupees ten only) [Face value of Rs.2/- (Rupees two only) and premium of Rs.8/-(Rupees eight only)]. The Investor bank shall not reduce its holding below 26% before completion of three years from the date of infusion of the capital.”
So effectively Yes bank shares fate is sealed at Rs.10 ? @Awake @bikidas2060 @BubbleBoyChickenLittle @marketdimer
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543808
Yes, though it’s a draft rn.. Govt. is just trying to save a bank. It’s Yes Bank of India now at the mercy of taxpayer’s money.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6543946
Yes Bank lent money to Anil Ambani group: FM
Finance Minister Nirmala Sitharaman’s press conference on the Yes Bank crisis:
“Since 2017, the RBI has been continuously monitoring and scrutinizing Yes Bank. It noticed that there were governance issues and weak compliance in the bank. There was a wrong asset classification together with risky credit decisions.
“Yes Bank lent money to some of the very stressed corporations like Anil Ambani Group, Essel, Dewan Housing Finance Corporation (DHFL), Infrastructure Leasing & Financial (IL&FS), and Vodafone.
“I have asked RBI to ago into assessing what has caused these difficulties for the bank and clearly identify the roles played by various individuals in creating the problem and not addressing it.
“I have asked RBI to act so that the due process of law takes its course with a sense of urgency. Investigative agencies, SEBI noticed malpractices by top executives in March 2019.
“Our government is committed to ensuring that depositors’ interests are safeguarded. I want RBI to ensure that due process of law is set to roll with a sense of urgency so that we should find out as to who led to the problem of this size and magnitude.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544029
Just received this email from Yes Bank…I have 2 lacs stuck in the savings & currently Yes Bank not allowing any kind of online or ATM transactions… 
Only way is to withdraw that 50k by visiting branch…Thanks to the members in this thread though who assured me that I will not lose my money…Really appreciated…I also talked with the customer care guys & they also assured me that nothing will happen to my money & they told me that, they have customers with crores of money in their accounts & their money is also safe like me…
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544104
Bhai. Don’t worry. Don’t panic. Nothing bad gonna happen to you. You are covered by depositors insurance credit guarantee corporation for 495000 + ,5000 interest. So don’t worry
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544099
SBI will also collapse saving heavy sinking ship of yesbank
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544185
Now now now that’s something to say in euphoria. But there are lot of big guys in RBI and Govt who are taking care of the situation, they don’t let things fall in such a simple way. These guys may not care about retail investors or depositors, but they too know that if they let things fall, everyone will fucked up. The real losers are retail shareholders who were holding their darling for long term.
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544286
We need to see quick resolution and bring back some sort of normalcy.and we don’t want again to hear 8 pm Breaking News Gov accept to dissolved Yes Bank!
What is the insurance cover limit for Yes Bank’s depositors?
In case the bank gets dissolved, the insurance limit for depositors will be* Rs 5 lakh per depositor across all accounts, including lockers.*
Read more at:
https://economictimes.indiatimes.com/industry/b...
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544359
Do not try to over think, it wont dissolve! Rbi is already out with draft reg for restructuring!
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544583
This Gujarat co withdrew Rs 265 cr, hours before RBI moratorium on Yes Bank
https://wap.business-standard.com/article/pti-s...
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6545480
What’s the point? Are you blaming govt ?
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544676
Can we withdraw Yes Bank A/c money from other banks’ ATMs?
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6544704
No
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https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6545755
Hello friends after seeing this Yes Bank situation I have a question. I have a PPF account in HDFC Bank which I opened in 2019 and after 15 years suppose in 2035 if anything bad happens to HDFC Bank will I get all my savings in PPF Account?
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6548211
Yes bro as it’s a GOI backed scheme, you are safe
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6548204
Its about time to start know your bank forms.
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6548212
SKYB. Start Knowing Your Bank. 🤪
https://www.desidime.com/discussions/govt-limits-50000-withdrawal-from-yes-bank?page=3#post_6552023
issue going to solve by 14th march
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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.