Yes Bank says ATMs, branches full of cash, normal services to resume tomorrow

The Reserve Bank of India had imposed a withdrawal cap of Rs 50,000 on March 5 which will be lifted from tomorrow 6 pm.

Troubled private lender Yes Bank today announced that all its ATMs and branches have enough cash to meet any requirement once the moratorium is lifted from 6 pm tomorrow.

Yes Bank’s moratorium and withdrawal cap will be lifted from 6pm on March 18, 2020. (Reuters)

“All ATMs are full with cash, all branches have adequate supply of cash,” Yes Bank Administrator Prashant Kumar told reporters.

The Reserve Bank of India (RBI) had imposed a withdrawal cap of Rs 50,000 on March 5 which will be lifted from tomorrow 6 pm. Kumar said complete normalcy will be restored after the moratorium is removed from tomorrow evening. “All our customers will be able to enjoy the entire banking service,” he said.

On the liquidity side, he assured that there is no issue and the bank would not have to depend on any external party for liquidity. In case the requirement arises, liquidity line is available.

Kumar asked customers to not worry and continue doing transactions the way they were doing earlier. He said only 1/3rd of their customers withdrew Rs 50,000 during the moratorium. “Customers feedback is that they don’t feel the need to withdraw money from bank. We have had higher inflows than outflows in the last few days,” he said.