BIG: Yes Bank to resume full banking services after 6 pm on March 18, at branches & online

In a big anuncement, Yes Bank has said that it would be resuming all of its banking services from March 18, including services on its digital platform.  government had previously anunced that moratorium on troubled private sector lender will be lifted on March 18 under  Yes Bank reconstruction scheme. Reserve Bank of India (RBI) had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3, however, Yes Bank appears to have fast-tracked giving relief to customers, and has also seen its share price rising by 48.14 percent to Rs 37.85 per share on Monday.  

Read: Yes Bank Investment Meant To Ensure System's Stability, t RoI: SBI Chief's Big Admission

Read: Yes Bank Reports Rs 18,564-cr Loss For Dec Quarter

Yes Bank crisis

On 5 March, RBI imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till 3 April.  RBI superseded board of Yes Bank, which has t been able to raise required capital for last six months. It also appointed former Chief Financial Officer of SBI, Prashant Kumar as administrator of Yes Bank.

Read: 'Will Boost Trust': Amit Shah Thanks PM Modi For Approving Yes Bank Reconstruction Plan

Later, Sitharaman had said government asked RBI to look into what went wrong at Yes Bank and fix individual responsibilities. On Thursday, SBI anunced a Rs 7,250-crore fund infusion into crippled Yes Bank. consortium fund infusion is part of Reserve Bank-mandated rescue plan for fourth largest private sector lender.

Read: ED Summons Anil Ambani In Probe Against Yes Bank Co-founder Rana Kapoor; Ambani Seeks Time

(With ncy Inputs)