Yes Bank crisis: RBI caps withdrawal at 50,000, people queue up outside ATMs

The Reserve Bank of India imposed a moratorium on Yes Bank on Friday. RBI has also capped the withdrawal limit to ₹50,000 per account till April 3rd. The central bank also superseded the board of Yes Bank. Former SBI CFO Prashant Kumar was appointed Yes Bank administrator. RBI has assured Yes Bank depositors that their interests will be fully protected. Shares of Yes Bank plunged 25% on Friday.

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Monday, December 11, 2023
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