New Delhi: Yes Bank along with State Bank of India (SBI) is in discussions with a large number of investors to raise capital, RBI-appointed administrator Prashant Kumar said Wednesday while assuring customers that their deposits are ‘absolutely safe’.
Kumar in an email to the customers has said that the bank is closely working with the government and the RBI towards resuming full banking services at the earliest, well before the communicated date of April 3.
The cash-starved private sector lender has come under the direct oversight of the Reserve Bank with the supersession of its board last Thursday and a moratorium has been placed till April 3, during which customers are now allowed to withdraw up to Rs 50,000.
“With respect to capital raising, along with the State Bank of India, we are in discussions with a large number of investors and are hopeful that in the next few days, there will be complete clarity in this regard,” Kumar updated customers in an email sent Tuesday night.
“Please be assured that our customers are our topmost priority and once again, I would like to re-iterate that your deposits are absolutely safe with the Bank,” said the mail by Prashant Kumar – Administrator, Yes Bank (appointed by the Reserve Bank of India).
“I understand that you are facing inconvenience owing to the unavailability of certain banking services by YES BANK. I assure you that this is temporary, and we are working closely with the government and the RBI towards resuming full banking services at the earliest, well before the communicated date of April 3, 2020,” Kumar said.
Meanwhile, the bank has allowed customers to pay towards their Yes Bank credit card bill and loan EMIs through IMPS, NEFT and RTGS modes. Also, the ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks’ ATMs.
The bank will also announce its third quarter results March 14, 2020. The bank for the first time has delayed its results announcement, about which it had informed before the RBI action.
As per the RBI’s draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan by infusing capital of Rs 2,450 crore.
PTI
