The private lender Yes Bank was put under a moratorium on late Thursday, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment during the period.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender.
Moratorium on withdrawal of money by depositors of Yes Bank is not the first of its kind. In the last 20 years, eight banks have faced this process.
Sikkim Bank Limited
Date of Moratorium: March 8, 1999
Period of Moratorium: March 8, 1999 upto and inclusive of June 5, 1999
Bareilly Corporation Bank Ltd.
Date of Moratorium: March 8, 1999
Period of Moratorium: March 8, 1999 upto and inclusive of June 5, 1999 and extended upto March 3, 2000
Benares State Bank Ltd.
Date of Moratorium: January 22, 2002
Period of Moratorium: January 22, 2002, up to and inclusive of April 21, 2002
Nedungadi Bank
Date of Moratorium: November 2, 2002
Period of Moratorium: November 2, 2002 upto and including February 1, 2003.
South Gujarat Local Area Bank Ltd
Date of Moratorium: November 13, 2003
Period of Moratorium: November 13, 2003 up to and inclusive of February 12, 2004 and extended upto August 12, 2004
Global Trust Bank
Date of Moratorium: July 24, 2004
Period of Moratorium: July 24, 2004 up to and inclusive of October 23, 2004
Ganesh Bank of Kurundwad Ltd
Date of Moratorium: January 7, 2006
Period of Moratorium: January 7, 2006 up to and inclusive of April 6, 2006 and extended to October 6, 2006
United Western Bank Ltd.
Date of Moratorium: September 2, 2006
Period of Moratorium: September 2, 2006 up to & inclusive of December 1, 2006
Yes Bank
Date of Moratorium: March 5, 2020
Period of Moratorium: March 5 upto and inclusive of April 3, 2020
