HomeEconomyRBI caps cash withdrawals from Yes Bank at Rs 50,000, imposes moratorium

RBI caps cash withdrawals from Yes Bank at Rs 50,000, imposes moratorium

The central bank has put a cap on cash withdrawals at Rs 50,000 for the private sector lender.

PTI

05 March, 2020 09:15 pm IST

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New Delhi: The Reserve Bank Thursday imposed a moratorium on troubled lender Yes Bank and capped withdrawals at Rs 50,000, sources said.

The private sector lender has been grappling with mounting bad loans.

Earlier in the day, sources said SBI along with some other financial institutions would bail out capital-starved Yes Bank, with the government giving the go-ahead.

Also read: Modi govt approves rescue plan for Yes Bank, SBI-led consortium to inject capital

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RBI caps cash withdrawals from Yes Bank at Rs 50,000, imposes moratorium

The central bank has put a cap on cash withdrawals at Rs 50,000 for the private sector lender.

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