Yes Bank administrator Prashant Kumar on Tuesday said that customers of the bank can enjoy normal operations from March 18. Addressing the media persons in Mumbai, he said that the bank will resume normal operations from 6 PM on March 18.

Yes Bank administrator Prashant Kumar on Tuesday said that customers of the bank can enjoy normal operations from March 18. Addressing the media persons in Mumbai, he said that the bank will resume normal operations from 6 PM on March 18. All Yes Bank ATMs has sufficient cash and all the branches have adequate cash supply, he added. Yes Bank also tweeted on March 16 that the bank would resume full banking services from Wednesday. We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services. You will also be able to access all our digital services & platforms@RBI @FinMinIndia — YES BANK (@YESBANK) March 16, 2020 × Shares of Yes Bank have surged more than 11-fold from their lifetime low during the last seven sessions, after State Bank of India (SBI), along with eight lenders, agreed to a bailout package for the private lender. On Tuesday, the stock closed at ₹59.10 on NSE, up 59.3% from its previous close. The stock had hit a lifetime low of ₹5.50 a share on 6 March.

Yes Bank to resume full banking services from today

Federal Bank on Saturday said it has committed to investing Rs 300 crore in beleaguered Yes Bank for the subscription of its 30 crore shares.

"The Bank has issued an Equity commitment Letter to invest Rs 300 crore in YES Bank Ltd for the subscription of 30 crore equity shares of Yes Bank at a price of Rs 10 per equity share," a regulatory filing said.

Also Read: <a href="https://www.wionews.com/india-news/sbi-will-take-49-stake-in-yes-bank-cabinet-has-approved-restructuring-sitharaman-286178">SBI will take 49% stake in Yes Bank, cabinet has approved restructuring: Sitharaman</a>

According to the statement, this equity commitment is pursuant to the scheme of reconstruction of Yes Bank proposed by the Reserve Bank of India and subject to regulatory approvals and other conditions as set out in the Letter.

The Union Cabinet on Friday approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank.

The authorised capital of Yes Bank has been increased to Rs 6,200 crore, Union minister Nirmala Sitharaman said on Friday.

Under the plan, state-run SBI will infuse Rs 7,250 crore in the crisis-ridden private bank and take 49 per cent equity.

Also Read: <a href="https://www.wionews.com/india-news/yes-bank-scam-cbi-carries-out-searches-at-7-locations-285222">Yes Bank scam: CBI carries out searches at 7 locations</a>

Private lender ICICI Bank also announced investing Rs 1,000 crore for equity in excess of 5 per cent. HDFC will infuse Rs 1,000 crore, while Axis Bank will invest up to Rs 600 crore to purchase 60 crore shares in the bank.

There will be a three year lock-in period for all the investors. However, the lock-in period for SBI would be only 26 per cent of shareholding. It would be 75 per cent in the case of other investors.

The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18.

Federal Bank on Saturday said it has committed to investing Rs 300 crore in beleaguered Yes Bank for the subscription of its 30 crore shares. "The Bank has issued an Equity commitment Letter to invest Rs 300 crore in YES Bank Ltd for the subscription of 30 crore equity shares of Yes Bank at a price of Rs 10 per equity share," a regulatory filing said.

Federal Bank on Saturday said it has committed to investing Rs 300 crore in beleaguered Yes Bank for the subscription of its 30 crore shares. "The Bank has issued an Equity commitment Letter to invest Rs 300 crore in YES Bank Ltd for the subscription of 30 crore equity shares of Yes Bank at a price of Rs 10 per equity share," a regulatory filing said. Also Read: SBI will take 49% stake in Yes Bank, cabinet has approved restructuring: Sitharaman According to the statement, this equity commitment is pursuant to the scheme of reconstruction of Yes Bank proposed by the Reserve Bank of India and subject to regulatory approvals and other conditions as set out in the Letter. The Union Cabinet on Friday approved a reconstruction plan proposed by the RBI for bailing out fund-starved Yes Bank. The authorised capital of Yes Bank has been increased to Rs 6,200 crore, Union minister Nirmala Sitharaman said on Friday. Under the plan, state-run SBI will infuse Rs 7,250 crore in the crisis-ridden private bank and take 49 per cent equity. Also Read: Yes Bank scam: CBI carries out searches at 7 locations Private lender ICICI Bank also announced investing Rs 1,000 crore for equity in excess of 5 per cent. HDFC will infuse Rs 1,000 crore, while Axis Bank will invest up to Rs 600 crore to purchase 60 crore shares in the bank. There will be a three year lock-in period for all the investors. However, the lock-in period for SBI would be only 26 per cent of shareholding. It would be 75 per cent in the case of other investors. The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18.

Federal Bank to invest Rs 300 crore in Yes Bank

Biju Janata Dal (BJD) Vice President Prasanna Acharya on Monday urged Union Finance Minister to allow Puri Jagannath Temple administration to withdraw the temple's fund from the crisis-hit Yes Bank as it belongs to the common people of the country.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/yes-bank-scam-cbi-carries-out-searches-at-7-locations-285222">Yes Bank scam: CBI carries out searches at 7 locations</a>

Acharya said he supported the move of State Finance Minister Niranjan Pujari writing to Union Finance Minister Nirmala Sitharaman seeking her intervention in the matter.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/enforcement-directorate-arrests-yes-bank-founder-rana-kapoor-under-money-laundering-charges-285034">Enforcement Directorate arrests Yes Bank founder Rana Kapoor under money laundering charges</a>

"It is a very precarious situation and our Finance Minister of Odisha has written to the Union Finance Minister to intervene in the matter to allow the Jagannath Temple Trust to withdraw the amount that is deposited in Yes Bank. The money belongs to the thousands of devotees," Acharya told ANI.

Acharya said the Yes Bank crisis will shatter the confidence of the depositors in the banking system."I think it is a failure on the part of the central government and Reserve Bank of India and it proves that there is no proper monitoring system," he added.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/yes-bank-founder-rana-kapoor-sent-in-ed-custody-till-march-11-285078">Yes Bank founder Rana Kapoor sent in ED custody till March 11</a>

State Finance Minister Pujari had written to Sitharaman on March 8."Various funds related to the temple - Foundation Fund, Corpus Fund, and Temple Fund - are being managed by the Managing Committee. Out of these funds, an amount of Rs 545 crore has been deposited with Yes Bank, Puri," Pujari wrote to Sitharaman.

"In this background, I request you to kindly issue necessary instruction to RBI to allow the release of deposits relating to SJTA in Yes Bank in the interest of millions of devotees of Lord Jagannath," he added.

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Earlier, the Reserve Bank of India (RBI) had said that a moratorium has been imposed on Yes Bank, stressing that the bank`s financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.

During the period of moratorium, the Yes Bank Ltd will not, without the permission in writing of the RBI, make payment to a depositor of a sum exceeding Rs 50,000 lying to his credit in any savings, current or any other deposit account.

Biju Janata Dal (BJD) Vice President Prasanna Acharya on Monday urged Union Finance Minister to allow Puri Jagannath Temple administration to withdraw the temple's fund from the crisis-hit Yes Bank as it belongs to the common people of the country.

Biju Janata Dal (BJD) Vice President Prasanna Acharya on Monday urged Union Finance Minister to allow Puri Jagannath Temple administration to withdraw the temple's fund from the crisis-hit Yes Bank as it belongs to the common people of the country. Also read: Yes Bank scam: CBI carries out searches at 7 locations Acharya said he supported the move of State Finance Minister Niranjan Pujari writing to Union Finance Minister Nirmala Sitharaman seeking her intervention in the matter. Also read: Enforcement Directorate arrests Yes Bank founder Rana Kapoor under money laundering charges "It is a very precarious situation and our Finance Minister of Odisha has written to the Union Finance Minister to intervene in the matter to allow the Jagannath Temple Trust to withdraw the amount that is deposited in Yes Bank. The money belongs to the thousands of devotees," Acharya told ANI. Acharya said the Yes Bank crisis will shatter the confidence of the depositors in the banking system."I think it is a failure on the part of the central government and Reserve Bank of India and it proves that there is no proper monitoring system," he added. Also read: Yes Bank founder Rana Kapoor sent in ED custody till March 11 State Finance Minister Pujari had written to Sitharaman on March 8."Various funds related to the temple - Foundation Fund, Corpus Fund, and Temple Fund - are being managed by the Managing Committee. Out of these funds, an amount of Rs 545 crore has been deposited with Yes Bank, Puri," Pujari wrote to Sitharaman. "In this background, I request you to kindly issue necessary instruction to RBI to allow the release of deposits relating to SJTA in Yes Bank in the interest of millions of devotees of Lord Jagannath," he added. × Earlier, the Reserve Bank of India (RBI) had said that a moratorium has been imposed on Yes Bank, stressing that the bank`s financial capability has undergone a steady decline largely due to the inability of the bank to raise capital. During the period of moratorium, the Yes Bank Ltd will not, without the permission in writing of the RBI, make payment to a depositor of a sum exceeding Rs 50,000 lying to his credit in any savings, current or any other deposit account.

Centre should allow Puri Jagannath Temple to withdraw from Yes Bank: BJD's Prasanna Acharya

As Reserve Bank of India puts a cap on Yes bank money withdrawal, Indian Finance Minister Nirmala Sitharaman assure customers that their money is safe in the bank & there is no need to worry.

As RBI puts cap on Yes bank money withdrawal, Indian FM assure customers that their money is safe