Govt. Imposes Moratorium On Yes Bank; Limits Withdrawal To Rs. 50,000 [Read Notification]

The Central government through the Ministry of Finance has made an order imposing moratorium on YES Bank with effect from 6PM today, i.e. March 5, 2020. The order comes in light of a recommendation made by the RBI keeping in mind the mounting bad debts on the bank. The moratorium will subsist until April 3, 2020 and until then, the depositors will not be allowed to withdraw more than...