Yes Bank Crisis : 50 thousand is the withdrawl limit till 3 april

Yes bank Crisis : If you have an account with Yes Bank, this is the answer to your five questions.

Yes bank Crisis : If you have an account with Yes Bank, this is the answer to your five questions.


Line of account holders remained outside Yes Bank branches across the country on Saturday. Troubled account holders line up to withdraw their rupees from the bank. Net banking and ATM are also not withdrawing money. The cash from other bank's ATMs could also not be withdrawn on Yes Bank's card. Troubled people kept trying to withdraw some cash from the check. The cash ran out at noon on most branches.



Five questions and answers of Yes Bank customers


1- Is this limit of Rs 50,000 for this month or for the entire duration of the ban?

Answer- According to the current order of the Reserve Bank, this ban imposed on Yes Bank will be from 5 March 6 pm till 3 April 2020. This means that till 3 April, any depositor can withdraw a maximum of 50 thousand rupees from his account. This will also apply to current and savings accounts. RBI may relax the rules, but this is the current situation.


2- If a person has his own account as well as a joint account with someone, will they be allowed to withdraw 50-50 thousand rupees from both accounts?

Answer - If there is such a situation that one person has a joint account with another as well as his personal account, then in such a situation, a total of Rs 50 thousand can be withdrawn by combining both accounts.


3- If a demand draft is issued from your account, can its amount be more than 50 thousand?

Answer- The total withdrawal limit from an account of Yes Bank is 50 thousand rupees. This limit can be used for withdrawal of cash, issue of demand draft, or withdrawal by any other means. Overall, this amount should not exceed Rs 50 thousand. This limit will be up to 3 April 2020. RBI may also relax the rules, but these are the rules at the moment.


4- Can withdrawal be made from your account through RTGS / NEFT?

Answer - If a customer wants to withdraw from his account through RTGS / NEFT, he can withdraw but, its limit also cannot be more than Rs. 50 thousand.


5- What will happen to the cheques already issued?

Answer - Following the RBI directive, all clearing activities have been stopped. Checks already issued will not be cleared until these activities are started.

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