As only to be expected, the mood among the rank and file at YES Bank is tense, but the employees are going about their jobs in the hope of things returning to normal after the moratorium ends on April 3.
This morning, ex-CEO Ranveet Gill made an appearance at the bank’s headquarters and proceeded to go about his daily routine. However, he was politely told by the RBI-appointed administrator to leave the premises, a source there told CNBC-TV18. The RBI appointed administrator, Prashant Kumar, was in the office today at 9:00 am.
Yesterday, YES Bank employees learnt of the RBI moratorium through news channels and WhatsApp forwards. Almost everyone had been aware of the deteriorating health of the bank over the past few months. Still, they were stunned when news of the moratorium became public. And many were hurt at getting to know about it from external sources, rather than from the management.
There was no formal interaction with the top management after the RBI announcement, but some YES Bank seniors had a concall with the staff and told them that the RBI action was a temporary one and that they needed to call up their key clients and assure them that their interests would be safeguarded.
Yes Bank employees are facing a tough time explaining to clients why they will not be able to withdraw more than Rs 50,000 of their deposits.
And many YES Bank employees too are in a spot because the only bank account they had was with YES Bank.
There was some panic among employees of YES Bank about the future of their jobs immediately after the news of RBI superseding the board broke. However, RBI has now clarified that all employees of the reconstructed bank will be able to continue in its service with the same remuneration, and same terms and conditions of service as before.