Crisis-hit Yes Bank provides relief to customers, enables inward IMPS/NEFT services

In a massive development, Yes Bank on Tuesday anunced that y have enabled ir Immediate Payment Service (IMPS) and National Electronic Funds Transfer (NEFT) services. y also mentioned that customers can w pay ir Credit card dues and or loans toward Yes BAnk using or bank accounts as well. This statement of Yes bank comes after y anunced that customers could make withdrawals using your Yes Bank Debit Card both at Yes Bank and or bank ATMs on March 7.

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Earlier on Monday, RBI-appointed Yes Bank administrator Prashant Kumar said lender is working to restore all banking services for its customers as soon as possible. Kumar also assured that for remaining days of moratorium on Yes Bank, bank staff is working hard so that all banking services could be restored at earliest.

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'All our ATMs were up for customers' 

"I think for us, first priority is customers and how to provide seamless business to our customers and like you must have seen on very first day, all our ATMs were up for customers," Kumar said in an interview to a media outlet. He said, since Saturday evening even ATMs of or banks were available for customers for cash withdrawal.

"And in our branches, our staff is reaching out to customers. y are dealing with ir issues. I would also like to take this opportunity to thank all our customers who have really cooperated with us, who have shown a lot of patience. And I think this is faith in brand of Yes Bank," Kumar told.

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Withdrawal limit of Rs 50,000

Yes Bank customers have been restricted with a cash withdrawal limit of Rs 50,000 till April 3 ever since Reserve Bank superseded board of bank on March 5, 2020, and appointed Kumar - a former SBI executive - as its administrator. RBI restriction on Yes Bank has also severely impacted or financial market transactions such as forex, credit card, digital payment, among ors.

"All of us are working so that entire banking service is available to our customers as soon as possible," Kumar said. Even before RBI action, Mumbai-headquartered lender had deferred anuncement of its earnings for third quarter of 2019-20 to March 14 or before. "I think we are going to declare our results on March 14th," Kumar said.

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