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Govt limits withdrawals at YES Bank to Rs 50,000; RBI supersedes board

Updated : March 06, 2020 07:56 AM IST

The RBI has superseded the board of YES Bank with immediate effect and has appointed former SBI chief financial officer Prashant Kumar as administrator for YES Bank.
The RBI has clarified that the restriction on withdrawal is subject to conditions and it can be a general or special order permit the bank to allow withdrawal of over Rs 50,000.
The central bank said that in case of unforeseen circumstances, like medical treatment of depositors or those dependent on him/her, it can allow for a higher withdrawal.

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