Yes Bank crisis Live Updates: ATM, net banking services down; depositors panic in the hunt for cash

A day after the Reserve Bank of India (RBI) placed restrictions on Yes Bank, its shares have fallen sharply on the stock market. The banking regulator on Thursday superseded the board of the troubled private lender with immediate effect and placed it under a 30-day moratorium. It has also appointed former State Bank of India CFO Prashant Kumar to pull the bank out of a crisis. Investors should also note that no Futures and Options (F&O) contracts shall be available in Yes Bank for trading in the equity derivatives segment from May 29, 2020. The development has also had a wider effect on banking stocks, which were trading in red on Friday. Meanwhile, panicked Yes Bank customers rushed to ATMs after the withdrawal limit was capped.

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