Customers express ire at Yes Bank branches in Kerala

Thiruvananthapuram, March 6 (SocialNews.XYZ) Yes Bank customers across Kerala appeared to be in a state of shock with restrictions imposed by the Reserve Bank of India across the state at various branches.

There are 16 branches of Yes Bank in the state, which is in a tight spot after the Reserve Bank of India superseded the Yes Bank Board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month.

Even though the staff members tried to pacify the customers that things will be sorted out, it failed to have any major impact.

But by late evening when TV channels started airing the statements of Union Finance Minister Nirmala Sitharaman that customers money is safe, evoked some cooling.

"I am very angry and I came rushing putting my family who are busy shopping waiting at the counter of the shop where they have made purchases. I tried swiping the Yes Bank card but it says a dishonoured'. I am at a loss and from now on it's going to be a big NO to doing business with Yes Bank again. Mind you, only the commercial banks are safe," said a miffed customer to IANS.

"... It's just not acceptable as we are in the first week of March and salaries have just been credited and we can't withdraw anything. Colleagues of mine who went was not able to withdraw and was told more cash will arrive later in the day," said the a person on anonimity with a salary account with the bank in Kochi.

The RBI said the bank's board was superseded "owing to serious deterioration in the financial position of the bank". Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank.

The Yes Bank has over 1,000 branches and 1,800-plus ATMs around the country which are under severe stress after the crisis erupted last night.

Source: IANS