YES Bank resumes inward NEFT, IMPS services; customers can now pay dues

Troubled lender enabled its inward IMPS/NEFT services. Customers can now make payments towards credit card dues and loan obligations on other accounts. Earlier, the new administrator Prashant Kumar said that the moratorium imposed by the could be lifted before the end of this week.

The bank, which had over Rs 2.09 trillion in deposits, was put under moratorium last Thursday due to an inability to raise capital. Its board was superseded and Kumar was placed as the administrator.

State Bank of India’s legal team has started due diligence as the public sector lender prepares to infuse Rs 2,450 crore to pick up to 49 per cent stake in the troubled private sector YES Bank after it was placed under administration by the RBI.

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