Yes Bank ALERT! Pay Credit Card, loan dues with NEFT, IMPS from other banks now

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Updated: March 10, 2020 12:37 PM

Meanwhile, CBI on Monday booked Yes Bank founder Rana Kapoor's wife and three daughters over allegations that he received kickbacks through scam-hit DHFL's Rs 600 crore loan to a family-owned company.

yes bank credit card loan payment with neft imps from other banks allowedThe RBI placed Yes bank under moratorium on March 5.

Yes Bank customers can now make payments towards credit card dues and loan obligations from other bank accounts as the lender has enabled inward IMPS/NEFT services. “Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation,” Yes Bank tweeted today.

The RBI placed Yes bank under moratorium on March 5. “The financial position of Yes Bank Ltd. (the bank) has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits. The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank,” RBI noted.

Meanwhile, CBI on Monday booked Yes Bank founder Rana Kapoor’s wife and three daughters over allegations that he received kickbacks through scam-hit DHFL’s Rs 600 crore loan to a family-owned company. The CBI also searched seven locations including their homes in Mumbai. Seven individuals including Kapoor, 62, his wife Bindu and daughters Roshini, Raakhe and Radha and five companies were named as accused in CBI’s FIR. The Enforcement Directorate(ED) has also expanded its money laundering probe against Rana.

No plan to bring other private sector banks under scrutiny 

News agency PTI reported on Monday that the government is not considering to bring other private sector lenders under scrutiny in the aftermath of Yes Bank crisis that has left lakhs of customers worried if their hard earned money is really safe in banks. “There is no such plan,” an official source told the agency when asked if the Yes Bank crisis preceded by Punjab and Maharashtra Co-operative (PMC) bank debacle calls for scrutiny of other lenders also.

The official also told the news agency that there has been timely action on part of both the government as well as the Reserve Bank of India (RBI). “The bailout plan has also been announced, so this will be contained,” said the official. Analysts expect that the new generation private sector lenders alongside the cooperatives could face slow growth in their deposits as the banking business is based on trust and confidence.

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