Sign up to save your podcasts
Or
Share Moratorium on Yes Bank to be lifted on March 18
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Moratorium on Yes Bank to be lifted on March 18
The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18.
The Yes Bank Reconstruction Scheme 2020 shall come into force on March 13, the gazette notification said.
On March 5, the Reserve Bank of India (RBI) had put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor until April 3.
After Yes Bank was placed under a moratorium, digital payments were impacted as PhonePe, which depends on the bank for its transactions, could not operate.
Other fintech operators who rely on Yes Bank to settle their transactions were also down. | To read full story, visit https://startuparound.com/read/1584169205.8563418/Moratorium-on-Yes-Bank-to-be-lifted-on-March-18?ref=audio_experience
View all episodes
By Startup AroundThe government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18.
The Yes Bank Reconstruction Scheme 2020 shall come into force on March 13, the gazette notification said.
On March 5, the Reserve Bank of India (RBI) had put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor until April 3.
After Yes Bank was placed under a moratorium, digital payments were impacted as PhonePe, which depends on the bank for its transactions, could not operate.
Other fintech operators who rely on Yes Bank to settle their transactions were also down. | To read full story, visit https://startuparound.com/read/1584169205.8563418/Moratorium-on-Yes-Bank-to-be-lifted-on-March-18?ref=audio_experience