Yes Bank resumes services but customers say Net Banking, UPI not working

Some Yes Bank customers are complaining that services like Net Banking, UPI and credit cards are still not working.

Yes Bank said on Wednesday that it has resumed operations, and its "full suite" of banking services are available for its customers now. Services of the private sector lender were suspended since March 5, when the Reserve Bank of India (RBI) imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor.

Our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation. #YESforYOU @RBI @FinMinIndia

— YES BANK (@YESBANK) March 18, 2020

But some customers are complaining that services like Net Banking, UPI and credit cards are still not working.

Dear @YESBANK not able to do net banking pic.twitter.com/OyOV47DSu0

— Aniket Mandal (@AniketOfficial) March 18, 2020

Still UPI services not working pic.twitter.com/DjQxP27Nc4

— Rahul Pal (@PalRahul1992) March 18, 2020

The outage is possibly due to the high number of requests being made by customers, which was expected. A recent report by Emkay Alpha Portfolio had said that the crisis-hit Yes Bank might see a heavy withdrawal of deposits by customers.

However, Yes Bank CEO-designate Prashant Kumar had said earlier there are absolutely no worries on the liquidity front and that complete operational normalcy would be restored from 6 pm on Wednesday. "We have made adequate precautions. All our ATMs are full with cash. All our branches have adequate supply of cash. So, from Yes Bank side, there is absolutely no issue on the liquidity front," Kumar said.