This story is from March 7, 2020

Worried depositors make beeline at Yes Bank branches in Hubballi-Dharwad

Worried depositors make beeline at Yes Bank branches in Hubballi-Dharwad
Hubballi/Dharwad: Thousands of panicky depositors on Friday rushed to the branch of Yes Bank on Club Road in Hubballi and on old PB Road in Dharwad to withdraw their money. Most of them were in shock with restrictions imposed by the Reserve Bank of India across the Bank's branches.
They waited patiently in serpentine queues armed with cheque books and Aadhaar cards to withdraw their funds as both net banking and the bank's mobile app services were down.

With withdrawals capped at Rs 50,000 per depositor, tension among customers was evident. Banks had deployed private security guards to manage the crowd.
Madhusudan HS, a private employee, who has his salary account with Yes Bank said he used the bank’s ATM card at a petrol bank on Friday morning. "It showed some technical error. I paid in cash. As I reached office, I heard that the bank is in crisis. I rushed to the bank but officials there insisted that I bring a cheque. I had left my cheque book at home. So I had to use the withdrawal slip and furnish my original identity proof," he said.
Several customers were seen arguing with bank officials to allow them to withdraw their fixed deposits and money from their SB accounts. The ATM located beside the bank on PB Road was running dry angering customers.
Even though staff members tried to pacify customers, not many were willing to hear them out.
Basavaraj, a distressed customer, said his father had a FD for Rs three lakh. "My sister's wedding is in May. We are tensed how we are going to meet the expenses, as the bank has capped withdrawals at Rs 50,000 per account for a month," he added.

Neeta, a college student, was most relieved after she withdrew Rs 25,000 from the bank. "My parents stay abroad. They used to transfer money to this account regularly. I had all of Rs 25,000 in my account and was most worried when news of the crisis broke across TV channels. I will now have to open an account in another bank," she said.
None of the staff spoke to the media or agitated customers who demanded that bank employees explain as to when the crisis will be resolved, as they struggled for cash with cheques and withdrawal slips.
"We are not allowed to speak to the media in this regard. Attending to customers is our priority," said a senior bank official.
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