GUWAHATI: The crisis-struck Yes Bank had to finally give up 49% of its stake to SBI as per RBI's draft resolution plan.
Rajnish Kumar, SBI Chairman said, "2,455 shares are outstanding as we are taking 49 per cent with 26 per cent lock-in for 3 years."
Earlier, on March 5, Yes Bank was placed under moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
The bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
Soon after the moratorium announcement, panic struck at the GS Road Branch of Yes Bank with customers thronging the premises to withdraw their hard earned money.
It is to be mentioned that because of the withdrawal limit even the bank's ATMs failed to work which led the customers to panic more.
Speaking to G Plus, one of its top officials said under conditions of anonymity, "Everything is fine now. It's just that the news came as a sharp surprise so the customers reacted a lot."
"Today you can see we have normal customer presence as on any other day and people are able to deposit and withdraw money," he added.
Meanwhile, it is to be noted that many small firms and schools which had a tie-up with the bank are hit the most as the National Electronic Funds Transfer (NEFT) service of the bank has been temporarily been halted.
However as per sources, the NEFT service will be resumed as early as March 7, 2020.
A customer at the bank said, "It's scary and I don't know what will happen to our money but as compared to yesterday today we are happy as SBI has pitched in and has provided us assurance of our money."
The government of India said that the order has been passed to protect the interest of the Bank's customers and the deposits are safe with the Bank.
