Yes Bank restores NEFT, IMPS services but only partially
Yes Bank has restored inward IMPS and NEFT facility, Yes Bank credit card holders can now clear their dues
NEW DELHI : After restoring ATM cash withdrawal services and access to netbanking portal, crisis-ridden Yes Bank today announced that it has partially restored its IMPS and NEFT services. This will enable Yes Bank customers to clear their credit card dues and loans from other bank accounts.
"Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation," Yes Bank said on Twitter.
Citing its financial health due to bad loans, the Reserve Bank of India (RBI) has placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till April 3.
Prashant Kumar, the RBI-appointed administrator, has said efforts are on to lift the moratorium before the April 3 deadline and it could be lifted as early as Saturday.
Last weekend, the lender had announced that its customers can now make withdrawals using the bank's debit card even at other bank's ATMs.
During the moratorium period, Yes Bank customers can use ATMs and branches to withdraw a total of ₹50,000 from their accounts. The prescribed limit of ₹50,000 is at customer ID level, which means that even if you hold multiple accounts your total withdrawal cannot exceed ₹50,000.
Cheque clearing activities are yet to resume. "Yes Bank clearing is currently suspended & DD/Cheque will not get presented in clearing by other Banks till further instructions or till reinstatement of clearing activities," the bank said.
As far as EMIs are concerned, Yes Bank said EMIs will be honoured up to the prescribed limit subject to reinstatement of clearing activities.