New Delhi: AIMIM chief and Hyderabad MP Asaduddin Owaisi has expressed concern over the Yes Bank case and has asked whether our savings bank is safe or not. Please tell that the Reserve Bank of India (RBI) has banned Yes Bank. Asaduddin Owaisi wrote, 'Previously there were non-banks like ILFS, Dewan which came under the grip of a falling economy. Then a big corporate bank like PMC got hit. And now the first commercial bank like Yes Bank has failed.
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Asaduddin Owaisi asked the question whether our savings are safe in the bank? It is noteworthy that the bank has been appointed as an administrator by dissolving the board of directors of the bank. RBI has set the cash withdrawal limit for Yes Bank customers to Rs 50,000 till further orders. RBI has put a moratorium on Yes Bank. Moratorium means to stop the status quo of related activities or work for a particular period. That is, now the bank will no longer be able to give loans and cash will be withdrawn without permission. Yes Bank's Moratorium is starting from March 5 and will be effective for the next 30 days.
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However, if the account holders have to withdraw money more than 50 thousand rupees, then money can be withdrawn for education, sickness, marriage for emergency. RBI says that there is no need to panic, the loss of customers will not be allowed.
