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YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank

If you are paying a personal/home loan or doing SIPs, shift ECS mandate to another bank. It just might make sense to have one account with a nationalised bank

Topics
YES Bank | PMC Bank | public sector banks

Sanjay Kumar Singh  |  New Delhi 

Coming soon after the Punjab and Maharashtra Co-operative (PMC) Bank scam, the events at YES Bank have left deposit holders a shaken lot. However, they should take heart from the fact that the regulator has acted very rapidly in this case, so their troubles may end soon.

But they, too, need to take a few steps to contain the adverse fallout of this development. The Reserve Bank of India (RBI) superseded the board of YES Bank and imposed a month-long moratorium on it. The moratorium period will last from March 5, 2020, until April 3, 2020, during which each depositor will be allowed to ...

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First Published: Mon, March 09 2020. 21:14 IST
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