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Customers in Chandigarh, Mohali make a beeline for Yes Bank branches
Reserve Bank of India (RBI) has capped withdrawal limit of Yes Bank customers at ₹50,000 per account per month
For 61-year-old Vinod Kumar Sharma, a retired government employee and resident of Aerocity in Mohali, the news of the Reserve Bank of India (RBI) capping withdrawal limit of Yes Bank customers at ₹50,000 per account per month came as a shocker.
Reason: All his savings which the family has to spend on their son, Karanveer Sharma’s wedding scheduled for April 24 are deposited in the account of the private bank.
“I visited the bank branch in Sector 70 to seek information regarding the withdrawal facility in my case, but the bank did not have any,” Sharma said.
The RBI’s directive which came into effect at 6am on Friday will be effective till April 3, 2020.
“I have been standing here since 10am and the situation is chaotic. Does the government really take into account what citizens of this country have to go through due to such decisions?” questioned Sharma.
Chaos was witnessed at the Chandigarh branches of the bank as well.
HT visited the main branches in Sectors 9 and 17 where long queues for withdrawals were seen, as the ATMs of the bank were not dispensing any money.
“An error saying ‘transaction cancelled’ is flashed on the ATM screens,” said Rajat Sharma, a private firm employee.
Priti Sharma, who visited the Sector 9 branch for withdrawal, said she had saved for the stent surgery of her father: “This is sheer injustice as one cannot withdraw one’s own money. Give my hard-earned money back,” she said to the bank employees.
Due to no clarity on the withdrawal procedures during the day, bank employees were not able to give concrete answers.
The RBI has placed in public domain a draft scheme of revival of Yes Bank, the public lender which has been put under the control of the central bank. India’s biggest bank, State Bank of India (SBI), has expressed its willingness to make investment in Yes Bank and participate in its reconstruction scheme, RBI said.
The RBI will receive suggestions on it up to Monday (March 9), and thereafter take a final view.
