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If your money is also stuck in Yes Bank, then know these 4 big things

yes bank, rbi, state bank of india, sbi

Yes Bank: The last time the condition of PMC Bank of Maharashtra deteriorated during Diwali and this time Yes Bank is going through its worst phase during Holi. Yes Bank shares fell as much as 50 percent during day trading as well. The situation is so bad that the Reserve Bank of India has set a limit to withdraw money from Yes Bank. If you also have an account with Yes Bank, then these 4 things are of your use.

1- Only 50 thousand can be removed fro Yes bank

Keeping in mind the protection of the interests of the customers of Yes Bank, State Bank of India has decided to withdraw up to Rs 50 thousand per account from Yes Bank. That is, even if Yes Bank has lakhs of rupees in your account, but you can withdraw only 50 thousand rupees. Currently, this ban has been imposed for 30 days which started from March 5 and will run till April 3. Explain that RBI has also taken the board of Yes Bank under its control.

2- Conditions to withdraw up to 5 lakhs per account

It is not that you cannot withdraw more than 50 thousand rupees under any circumstances. The Reserve Bank of India has set some circumstances in which you can withdraw more than Rs 50,000. The Yes bank has made it clear that if you have a medical emergency or you have to pay more education fees or have a wedding in your home, then you can withdraw 5 lakh rupees.

3- Payment of draft or pay order issued so far

There will be some cases in which a draft or pay order of a higher amount would have been issued even before the order issued by the Reserve Bank of India on 5 March. Some people are in confusion that now they too will not be able to pay the full amount and will get only 50 thousand rupees. Here, let us tell you that whatever drafts or pay orders have been issued before the RBI order, the full amount will be paid.

4- SBI-LIC will buy Yes Bank stake

State Bank of India has taken some important steps to save Yes Bank, which is facing a financial crisis, from sinking, including that SBI and LIC will take a 49 percent stake in Yes Bank. It is reported that both will take a 24.5 percent stake. Efforts are made to save Yes Bank by doing this so that the interests of customers can be protected. Let us know that since the news that State Bank of India will take a stake in Yes Bank, which is facing a financial crisis, the shares of both Yes Bank and State Bank of India have been falling.

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