India Seizes Control Of Yes Bank, Plans Bailout

  • “In today’s top payments news, the Indian government has taken control of Yes Bank as it creates a bailout plan for the bank
  • The RBI has capped the withdrawal limit at Rs 50,000 ($676) for 30 days, sending people into a panic and emptying Yes Bank’s ATMs of cash.
  • Yes Bank was founded in 2004 by billionaire Rana Kapoor who was recently asked to step down as the CEO”*YW1wLTVIUmIxbEhIM0lwelROMm5QaWVCOWgtNEY5TWR0M1F6dFdhWWxZaWtlYTgxbEc5c2VZZWxRNTBQNU5wWTJlbHU.

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