Govt puts Yes Bank under moratorium; withdrawals limited to Rs 50,000

This has been done to quickly restore depositors' confidence in the bank. The scheme for reconstruction and amalgamation of bank is also being put in place, RBI said in the statement.

The government on Thursday placed Yes Bank under moratorium till April 3, as the central bank capped depositor withdrawals at Rs 50,000 and superseded the troubled private lender's board.

The Reserve Bank of India (RBI) appointed Prashant Kumar, a former deputy managing director and chief financial Officer of State Bank of India (SBI), as administrator for Yes Bank. It said in exceptional circumstances like medical emergencies, marriages, depositors can withdraw up to Rs five lakh or amount in their accounts, whichever is less.

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