In pics: Customers of Yes Bank line up outside ATMs for cash fearing loss of deposits

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In pics: Customers of Yes Bank line up outside ATMs for cash fearing loss of deposits


  • The Reserve Bank of India put withdrawal restrictions on customers of Yes Bank.
  • Depositors cannot withdraw more than ₹50,000 from their savings/current/other deposit accounts.
  • The notification from the RBI came just ahead of the festive season and has led to panic.
  • However, most ATM’s aren’t working and those which are working ran out of cash minutes after the news broke.
Customers of Yes Bank woke up to a tense notification from the Reserve Bank of India. The central bank said that customers cannot withdraw more than ₹50,000 from their savings/current/ other deposit accounts.
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The news about the crippling status of Yes Bank just a few days before the festival sent customers into panic mode. It is the second bank to enter troubled territory after Punjab & Maharashtra Cooperative (PMC) Bank.
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In pics: Customers of Yes Bank line up outside ATMs for cash fearing loss of deposits

In pics: Customers of Yes Bank line up outside ATMs for cash fearing loss of deposits


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Yes Bank is one of largest private banks in India with branch banking network of over 1000 Branches and 1,800 ATMs

Yes Bank is one of largest private banks in India with branch banking network of over 1000 Branches and 1,800 ATMs

Hassled Yes Bank depositors rushed to ATM’s as soon as the news broke.

Hassled Yes Bank depositors rushed to ATM’s as soon as the news broke.

However many ATMs including the one at Horniman Circle in Mumbai pulled the shutters down at 10pm.

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Some of the anxious depositors were able to dispense cash but had to wait in long queues.

Some of the anxious depositors were able to dispense cash but had to wait in long queues.

Many ATM’s were closed as early as 8 pm on March 5. Whereas some ATMs ran out of cash within minutes of the RBI announcement.

Yes Bank depositors also faced difficulties in accessing the internet banking channel that ensured people can’t transfer funds online.

Yes Bank depositors also faced difficulties in accessing the internet banking channel that ensured people can’t transfer funds online.
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The moratorium will stay in effect for a month and the RBI may increase the limitation of ₹50,000 on a case-to-case basis. These cases can include medical emergencies, higher education and expenses related to marriage. However, the bank will not be able to renew or grant any loans.

The moratorium will stay in effect for a month and the RBI may increase the limitation of ₹50,000 on a case-to-case basis. These cases can include medical emergencies, higher education and expenses related to marriage. However, the bank will not be able to renew or grant any loans.

RBI said there’s is no reason for depositors to panic and their interests will be fully protected. RBI governor Shaktikanta Das told the media on March 6 that they are working on a revival plan.

RBI said there’s is no reason for depositors to panic and their interests will be fully protected. RBI governor Shaktikanta Das told the media on March 6 that they are working on a revival plan.
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RBI said there’s is no reason for depositors to panic and their interests will be fully protected. RBI governor Shaktikanta Das told the media on March 6 that they are working on a revival plan.

RBI said there’s is no reason for depositors to panic and their interests will be fully protected. RBI governor Shaktikanta Das told the media on March 6 that they are working on a revival plan.

Not just Yes bank, ATMs of other banks including Bank of Baroda and SBI also witnessed long queues in Navi Mumbai area.

Not just Yes bank, ATMs of other banks including Bank of Baroda and SBI also witnessed long queues in Navi Mumbai area.
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