All Yes Bank ATMs have adequate supply of cash: Administrator Prashant Kumar

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NEW DELHI: Yes Bank administrator on Tuesday said that there is absoulutely no issue of liquidity in the bank and assured depositors that all branches and ATMs of Yes Bank have adequate supply of cash.
The troubled private lender will resume services from 6pm of March 18 and customers will be able to access all services as before, Kumar said in a press briefing.
“Apart from equity infusion, our team in Yes Bank started communicating with customers. The entire inflow of NEFT, RTGS and IMPS services have been made available,” he added.
Praising the efforts put by the government and the Reserve Bank of India (RBI) in devising a rescue plan for Yes Bank, Prashant Kumar said that for the first time 8 banks have come together to support a cause affecting the entire banking industry.
The former SBI deputy MD, Kumar was appointed as the administrator of Yes Bank after the RBI placed it under moratorium and capped withdrawals at Rs 50,000. He will now take charge as the CEO of the restructured Yes Bank.
Noting that Yes Bank witnessed more inflows than outflows, the former SBI deputy MD said that only one-third of customers withdrew Rs 50,000 during the moratorium period.
“In past 3 days, more money came to Yes Bank compared to withdrawals as only one-third of customers withdrew Rs 50,000,” he added.
Meanwhile, SBI chairman Rajnish Kumar — who was also present at the briefing — assured that it will not sell a single Yes Bank share before the three-year lock-in period.
SBI will increase its stake from the current 42 per cent to 49 per cent in second round of funding, the SBI chief added.
Shares of Yes Bank surged 58.09 per cent to close at Rs 58.65 on the BSE. While, it rose sharply by 59.29 per cent to close the day at Rs 59.10 on the NSE.

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