yes bank moratorium lifted

Digital platforms and services including net banking and app and UPI Services including that on third party platforms are available to customers now. Global rating agency Moody's on Monday upgraded Yes Bank's ratings and changed the lender's outlook to positive. The RBI had on March 5 imposed a moratorium on Yes Bank and also superseded the Board of Directors for a period of 30 days owing to a serious deterioration in the financial position of the bank. We have been able to restore the services within a swift timeframe, keeping the interest of our esteemed customers at the core, under the guidance of the Reserve Bank of India," Kumar said in a message to customers. The administrator of Yes Bank Prashant Kumar has said that the lender has full liquidity support from the Reserve Bank of India and State Bank, to deal with any flight of deposits from the bank. The moratorium on Yes bank Ltd. could be lifted as early as this Saturday, according to Reserve Bank of India-appointed administrator Prashant Kumar. | Photo Credit: The government has notified the reconstruction scheme for crisis-hit Yes Bank, according to which thePrior to this, on March 5, the RBI placed Yes Bank under a moratorium,“The order of moratorium on the reconstructed bank issued by the Government of India...shall cease to have effect on the third working day at 18:00 hours from the date of commencement of this Scheme,” the notification, issued late on Friday night said, adding that the ‘Yes Bank Reconstruction Scheme 2020’ will come into force on March 13, 2020.Under the scheme, Mr Kumar has been appointed as the Chief Executive Officer and Managing Director of the Bank, with Sunil Mehta, former Non-Executive Chairman of Punjab National Bank as Non Executive Chairman, and Mahesh Krishnamurthy and Atul Bheda as Non-Executive Director.

Other banking services will be available to customers at over 1,000 branches across the country from Thursday.

Meanwhile, shares of Yes Bank continued to rally for the fourth consecutive day on Wednesday, sharply rising by 50%. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. Other investors are also being invited." Thank you for your… https://t.co/AWduaPZq14To serve you better, our branches will open one hour earlier at 08:30 hours from March 19 to 21, 2020. Kumar the bank was keen to approach the board for hiking the holding to 49%. *Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Updated: 14 Mar 2020, 02:06 PM IST Shreya Nandi. Prior to this, on March 5, the RBI placed Yes Bank under a moratorium, restricting withdrawals to ₹50,000 per depositor till April 3. The scrip jumped 49.95% to Rs 87.95 on the BSE. On the NSE, it zoomed 48.84% to Rs 87.30.State Bank chairman Rajnish Kumar on Tuesday said the country's largest lender that owns close to 43% in Yes Bank now will not sell a single share before that mandated three-year lock-in period. Share: Written By: Zee Media Bureau. While the moratorium was to last till April 3, it was lifted following a restructuring plan by the State Bank of India. Pennsylvania’s moratorium is scheduled to expire on July 10, though Philadelphia’s has been extended to Aug. 31. Yes Bank on Wednesday resumed its services as the moratorium imposed on it by the Reserve Bank of India (RBI) was lifted at 6 pm. “There shall be a lock-in period of three years from the commencement of this Scheme to the extent of seventy-five per cent in respect of–– (a) shares held by existing shareholders on the date of such commencement; (b) shares allotted to the investors under this Scheme: Provided that the said lock-in period shall not apply to any shareholder holding less than one hundred shares.”You have reached your limit for free articles this month.Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.Move smoothly between articles as our pages load instantly.Enjoy reading as many articles as you wish without any limitations.A one-stop-shop for seeing the latest updates, and managing your preferences.A select list of articles that match your interests and tastes.We brief you on the latest and most important developments, three times a day. Among the private players, ICICI Bank and Housing Development Finance Corporation committed Rs 1,000 crore each.

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