Depositors jittery; long queues at ATMs, netbanking down

New Delhi, March 6

Any fiasco in the banking sector eventually takes a toll on the common man and the Yes Bank fiasco has been no different, as people across the country have had to stand in long queues to withdraw their money.

Moreover, ATMs in several places have run out of cash, adding to the despair.

The Reserve Bank of India (RBI) on Thursday capped withdrawal from Yes Bank at Rs 50,000 and effected moratorium on Yes Bank from 6 pm on Thursday to April 3.

Further, it is not just long queues and low-on-cash ATMs that is harrowing the depositors, even online banking and mobile app services of the private lender are not working. Delhi-based Pranay Bhardwaj could neither log on to his mobile app nor netbanking site. He fears he would not be able to withdraw cash for a longer period.

In Hyderabad, planning for his son’s higher education, Peddi Srinivas deposited money in Yes Bank but with the bank in crisis, he is worried over the impact it may have on his plans. Srinivas, who has his account in Somajiguda branch of Yes Bank in Hyderabad, now wants to withdraw Rs 5 lakh he had deposited.

“He told me that for emergencies the depositors will be allowed to withdraw more than Rs 50,000. For this I have to submit the proof. The procedure will be known in a day or two,” Srinivas said.

In Maharashtra, distressed and angry customers of the crisis-hit Yes Bank trooped outside scores of branches and ATMs in Mumbai, Thane, Pune, Nagpur and other cities on Friday to withdraw money. — IANS