The Reserve Bank has reduced the withdrawal limit from Yes Bank accounts to just Rs 50 thousand. After this, there is a lot of panic among the customers of Yes Bank. Queues see outside the bank’s ATMs, and in many ATMs, there is no money coming out. In such a situation, all kinds of questions arise, what should the EMI do or what the salary account should do? Let’s know the answer to these questions.
Yes Bank Problem
The Reserve Bank has decided for a month that only up to Rs 50 thousand can be withdrawn from Yes Bank accounts. This savings, deposit, and the current account are all-inclusive. This means that no matter how many accounts you have, you cannot withdraw more than 50 thousand rupees in this limit of one month.
The Reserve Bank said that there is no need to panic the customers, and other measures will take to solve the bank’s problems soon. The limit of withdrawal from Yes can be increased further like PMC. During this time, interest will add to your deposited money.
In Which Cases Is There An Exemption
According to the instructions of the Reserve Banks, the exemption can be given only in cases with specific individual needs. But even in such exceptional circumstances, money cannot get more than Rs 5 lakh. Which such case is unique, it will decide by the ‘competent authority.’
These special discounts are as follows-
- Medical treatment of the account holder or those dependent on him.
- The amount for higher education needs of the account holder or his dependents
- Wedding expenses
- Any sudden emergency needs
What To Do With EMI
If you are paying any of your EMI from YES accounts, then talk to the banks or housing company acquiring the EMI and ask for some time relief or EMI transfer to another bank.
What To Do With Salary Account
If your salary comes in the bank account, then, for the time being, withdraw money from other banks accounts or arrange contingency funds from elsewhere.
There May Be A Problem In Yes Bank Net Banking
There is a problem with withdrawing money from Yes Bank ATM. Its net banking can also disturb some time because suddenly, many customers will break for net banking. You try to run net banking after some time.