New Delhi: On a day when the Central Bureau of Investigation (CBI) is conducting raids at seven locations in Mumbai in connection with a case against Yes Bank founder Rana Kapoor, the RBI-appointed Yes Bank administrator Prashant Kumar on Monday said the bank is working hard to restore all banking services for its customers as soon as possible.
“I think for us, the first priority is the customers and how to provide the seamless business to our customers and like you must have seen on the very first day, all our ATMs were up for the customers,” Kumar said.
Saying that ATMs of other banks were available for customers for cash withdrawal since Saturday evening, he said that the staff members are dealing with other issues of the bank.
“And in our branches, our staff is reaching out to customers. They are dealing with their issues. I would also like to take this opportunity to thank all our customers who have really cooperated with us, who have shown a lot of patience. And I think this is the faith in the brand of Yes Bank,” Kumar said.
The statement from the bank administrator comes after the RBI restricted the cash withdrawal limit for customers at Rs 50,000 till April 3. The RVI also superseded the board of the bank on March 5and appointed Kumar – a former SBI executive – as its administrator.
In another development, the RBI restriction on Yes Bank has also affected other financial market transactions such as forex, credit card, digital payment, among others.
“All of us are working so that the entire banking service is available to our customers as soon as possible,” Kumar said.
Before the RBI took action, the yes bank had deferred announcement of its earnings for the third quarter of 2019-20 to March 14 or before. “I think we are going to declare our results on March 14th,” Kumar said.
“The administrator will consider and take on record the unaudited financial results of the bank, for the quarter and nine months ended on December 31, 2019 along with limited review report thereon by the statutory auditors of the bank on Saturday, March 14, 2020,” the Yes bank said in a statement.
Replying to a question that the bank’s capital requirement is higher than what SBI will bring up with its 49 per cent stake, Kumar said the clarity would come with the board meeting when it announces the earnings for the third quarter.
“What SBI has shown interest is of 49 per cent. Definitely there would be more requirement. We are in talks with like-minded investors. SBI is also doing that part. So we are quite hopeful that in a couple of days the issue about the capital requirement will be taken care of,” Kumar said.
Earlier in the day, the CBI conducted searches at seven locations in Mumbai in connection with a case against Yes Bank founder Rana Kapoor. Prior to this, Rana Kapoor was on Sunday handed over to the Enforcement Directorate till March 11 by Mumbai’s Special Holiday Court.
