YES Bank To Resume Operations, Digital Services From Wednesday

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New Delhi: The cash-strapped YES Bank will resume all its banking operations after 6 pm from Wednesday (March 18).

People will also be able to access the digital services and platforms, the private bank tweeted on its official handle on Monday.

Hours before this announcement the YES Bank’s shares had jumped sharply by over 58 per cent. It is being attributed the reconstruction scheme approved by the Union Cabinet for the stressed lender.

On March 14, the government in a gazette notification had announced lifting of the moratorium on YES Bank at 6 pm on March 18.

On March 13, Finance Minister Nirmala Sitharaman had said that moratorium, including a cap on withdrawals, will be removed as early as in three working days from the notification of the reconstruction plan.

On March 5, the Reserve Bank of India had imposed a moratorium on YES Bank, restricting withdrawals to Rs 50,000 per depositor till April 3.

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