Yes Bank, which is facing financial crisis, on thursday, the Reserve Bank of India has set a limit to withdraw Rs 50,000 for the bank’s customers. That means customers will now be able to withdraw only 50 thousand rupees in a month. After this there was chaos in the customers. After the RBI decision, the stock market has seen a lot of ups and downs on Friday. Yes Bank shares opened at Rs 33 on Friday. However, the stock fall down to Rs 5.9.

Also Read: RBI SCREWS ON YES BANK, CUSTOMERS WILL NOT BE ABLE TO REMOVE MORE THAN 50 THOUSAND

Looking at the history of Yes Bank, this bank gave money to most such companies in India whose financial record is not clear. Yes Bank has had successive setbacks in the last few years and the financial condition has deteriorated. There was another setback on Thursday when RBI set a limit to withdraw money from Yes Bank. On Thursday, the Reserve Bank of India has set a limit to withdraw Rs 50,000 for the bank’s customers. That means customers will now be able to withdraw only 50 thousand rupees in a month. After this there was chaos in the customers. Yes Bank has received successive setbacks in the last few years and the financial condition has deteriorated. Earlier, the biggest shock to Yes Bank was when in 2018, Reserve Bank of India forcibly removed Yes Bank CEO Rana Kapoor from the post.

Also Read: DIFFICULTIES FOR YES BANK CUSTOMERS, KNOW WHAT TO DO THESE ARE IMPORTANT THINGS

Why RBI removed Rana Kapoor in 2018: Ever since YES Bank CEO Rana Kapoor was removed, the bank’s condition started to deteriorate. RBI suspected that Yes Bank was making a mess in NPA and balance sheet. After this action was taken. Starting with a small bank, Yes Bank has become an asset company of 3 lakh crore in the last decade.

Get Latest news from India and around the world on Bollywood, Politics, Business, Cricket, Auto and Technology.

Enter your email address to subscribe
24 x 7 News and receive notifications of latest news via email.

LEAVE A REPLY

Please enter your comment!
Please enter your name here