Customers withdrew INR 18,100 crore during March-September 2019, as they sensed something wrong with YES bank

YES bank is having a worse time and also has put a limit of INR 50,000 on the withdrawal of money. And the customers are panicking because of the situation. They are not feeling their money safe in the YES Bank account for the obvious reasons.

However, if we see the withdrawal of last year, customers have withdrew the amount over INR 18,100 crore in the year 2019.

On the same, a Delhi based customer said that he had that feeling that there is something wrong with the YES bank and hence, he tried taking all his money deposits back to him and only left some minimum balance in order to keep the phone active.

On his words-“We kept hearing that there was some problem with the bank, therefore we took out our money well before the withdrawal restriction was imposed on the bank,”

The customer gave that statement on the condition that he doesn’t want to reveal his identity. And respecting that, we are not mentioning the name.

On a statement issued- the bank said, “Over the past few weeks, there has been a lot of unfounded speculation about Yes Bank’s board and management stability, asset portfolio, future growth prospects amongst other things.”We strongly refute such speculations which we suspect is a deliberate and malicious attempt to create instability in the institution by undermining investor and client confidence. We have apprised the authorities of these developments. The financial position of Yes Bank is sound and stable and its liquidity and operating performance continue to be robust,”