Yes Bank has enabled inward Immediate Payment Service (IMPS) and National Electronic Funds Transfer (NEFT) services. People can now use other bank accounts to send payments towards Yes Bank credit card dues and loan obligations through IMPS and NEFT.
The development comes as the Reserve Bank of India (RBI) superseded Yes Bank’s board and put a withdrawal cap of Rs 50,000 from its accounts with few exceptions. Last week, the central bank suspended the board of directors at India’s fourth-largest private bank and imposed the withdrawal limit on account holders till April 3 citing its poor financial health due to bad loans.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
