Focus Merit

GoI imposed the Rs 50,000 withdrawal limit on Yes Bank account holders

Yes Bank

The Union Government of India imposed temporary prohibition of the activity of the capital-starved Yes Bank and capped withdrawals at ₹50,000 per account after considering an application created by the Reserve Bank of India. The board of Yes Bank has been superseded with immediate effect by the Reserve Bank of India (RBI). Former SBI CFO Prashant Kumar has been selected as administrator of Yes Bank.