The RBI capped deposit withdrawals at Rs 50,000 per account for a month for customers. Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced a multitude of problems including closed down machines and long queues after the RBI placed the bank under a moratorium. A day after the Reserve Bank of India (RBI) placed restrictions on Yes Bank, its shares have fallen sharply on the stock market.

Reserve Bank of India (RBI) Governor Shaktikanta Das said the central bank is working swiftly and smoothly to come up with a plan to deal with the development "very shortly".
"30 days is the outer limit. RBI is working very swiftly and smoothly and RBI will come up with a scheme very shortly," he said.

Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, Nirmala Sitharaman said the bank was being monitored since 2017 and developments relating to it were being monitored on a day-to-day basis.
The Finance Minister also said that the employment and salary of Yes Bank employees have been assured for one year.
#YesBankCrisis

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