Yes Bank has announced that it will resume banking operations March 8 from 6 pm onwards. The bank has said that the customers will be able to access all banking services from March 19.
"We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services. You will also be able to access all our digital services & platforms," said the bank in a tweet.
The cash-strapped lender had on Saturday reported Rs 18,564 crore loss in December quarter. Its gross non-performing assets also shot to 18.87 per cent in December 2019 quarter against 2.10 per cent in the year-ago.
On March 5, the Reserve Bank of India had placed the bank on moratorium for failing to recover huge amount of loans it had lent to businessmen. The depositors were not allowed to withdraw more than Rs 50,000 per account.
The RBI also superseded the board and placed it under an administrator, Prashant Kumar, former deputy managing director and CFO of State Bank of India (SBI).
Last week, Finance Minister Nirmala Sitharaman said SBI will invest in Yes Bank and invited other investors too. Later, ICICI Bank, HDFC, Axis Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First also joined the SBI-led consortium and invested in Yes Bank.
The shares of the cash-strapped lender surged 46 per cent at Rs 37,10 as of 15:30.