Yes Bank resumes banking services as Reserve Bank of India lifts moratorium

New Delhi: Yes Bank resumed its banking services on Wednesday (March 18). The lender issued a statement, “Our banking services are now operational. Customers can now experience the full suite of our services.”

To inform its account holders, Yes Bank tweeted, “To serve you better, our branches will open one hour earlier at 08:30 hours from March 19 to 21, 2020. We have also extended banking hours across branches for our senior citizen customers, from March 19 to March 27, 2020, 16:30 hours to 17:30 hours. #YESforYOU @RBI @FinMinIndia”

To serve you better, our branches will open one hour earlier at 08:30 hours from March 19 to 21, 2020. We have also extended banking hours across branches for our senior citizen customers, from March 19 to March 27, 2020, 16:30 hours to 17:30 hours. #YESforYOU@RBI @FinMinIndia

— YES BANK (@YESBANK) March 18, 2020

On Tuesday, the Enforcement Directorate (ED) filed a fresh money laundering case against Yes Bank promoter Rana Kapoor and his wife for allegedly obtaining Rs 307 crore bribe from a realty firm routed through the purchase of a bungalow in Lutyens’ Delhi at half the market price, officials said.

The ED has alleged that the bribe was paid to the Kapoors for facilitating around Rs 1,900 crore loans from Yes Bank to the realty firm and delaying recovery.

Rana Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporates. This will be the second complaint against him under the Prevention of Money Laundering Act (PMLA).