According to Reserve Bank of India (RBI) over the lender’s Financial health, Yes Bank account holders cannot withdraw more than Rs 50,000 for a month. The rules apply to anyone has a saving, current or any other deposit account in Yes Bank even though if you have more than one account in the bank, the total withdrawal limit cannot cross the Rs 50,000 cap.  However, according to the finance ministry notification, the RBI can allow withdrawal of up to Rs 5 lakh but only under specific circumstances like payment if medical bills, higher education expenses, etc. The RBI is yet to issue a detailed order on this issue.
RBI is allowed to hike withdrawal limit for Yes Bank depositors under the following circumstances:
1) For medical treatment of the depositor or anyone dependent on him/her.
2) For the cost of higher education of the depositor or any dependents for education in India or even outside India.
3) To pay obligatory expenses in connection with marriage or other ceremonies of the depositor or his children or of any other dependents.
4) In connection with any other unavoidable emergency.
The finance ministry has also said that under such unforeseen circumstances, the maximum withdrawal cannot exceed Rs 5 lakh or the actual balance lying to the credit of the account of such depositor, whichever is less. Yes Bank account holders who want to apply the above provisions to withdraw more than Rs 50,000 need to wait for a detailed RBI order which specifies the withdrawal rules.
Read EquityPandit’s Nifty Bank Outlook for the Week