New Delhi, Mar 6: After Yes Bank was placed under moratorium, digital payments were impacted as PhonePe, which depends on the cash-strapped lender for its transactions, could not operate.
It can be noted that the bank's own net banking facilities have not been operational since last evening. Other fintech operators who rely on Yes Bank to settle their transactions are also down. “We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap (as soon as possible),” the app's chief executive Sameer Nigam tweeted early in the morning.
PhonePe, one of the country's largest digital payment platforms, is dependent on Yes Bank to process its transactions.
He added that the app hopes to be live in a “few hours”.
Yes Bank placed under a moratorium Thursday evening, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
He added that the app - one of the most popular interfaces for UPI transactions - hopes to be live in a “few hours”.
Comments
The day is not too long to fight for Muslim Freedom/Indipendent - India will FIRE....
That means bakht indian are easily fooled by their cheddi leaders from knowing the TRUTH of WORSHIPING ONE GOD... (NA TASYA PRATIMA ASTI) and these cheddis very easily CONTROL these IGNOrANTS of their GOD given LIFE and BLIND them from understanding their own religion .... Swami AGNIVESH is telling the TRUTH but cheddis blinded the Bhakts so shakuningly that they ignored truth and and stand with the cheddis cos of their religious IGNORANT... Learn from AGNIWESH, cow is not your mother or God its an ANIMAL created by ONE MERCIFUL GOD for human sustenance thru milk or meat... Human beings are an intelligent creation of GOD, if they dont try to know this ONE GOD who created all that exists, then they are really easily FOOLED by the evils of the Society. Wake up guys dont be FOOLS of our time
Yea there is no wonder if one day may afgan talaban enters india to sacrifice their life to protect muslims from crime of saffron talaban killings of innocent muslims.
Well said Mr. Taroor. You are totally right. Even its dung has value also.
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