Yes Bank Plunges After RBI Takes Control, Caps Withdrawal Limit

Yes Bank plunged 39 per cent to Rs 22 a day after the government imposed a withdrawal limit of Rs 50,000 on its account holders with few exceptions till April 3, and the Reserve Bank of India (RBI) suspended the private sector lender's board for a period of 30 days "owing to serious deterioration in the financial position of the Bank". The government has restricted the withdrawal of deposits to Rs 50,000 and any withdrawal over and above this amount will require the permission of the Reserve Bank of India.

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