The Reserve Bank of India has announced recently that reconstruction scheme for the trouble Yes Bank has been facing for quite a long time. Yes Bank was put under restrictions on few days ago by the Apex Bank. The Reserve Bank of India has recently said that the reconstruction has been devised in order to revive Yes Bank. If you are a customer of Yes Bank there here are few things that you should what impact the crisis of Yes bank crises are going to have on the market.
All of the liabilities and deposits of the Bank are going to be continued in the same manner as before. The same terms and conditions will be applied, and it is not going to be affected by the scheme of RBI. It crucially implies that there will be no change in any type of condition in car loans. There will be no change even in terms of home loan, personal loan, or any credit card due. If you have applied for a car loan in the past, then you will have to continue paying your EMI’s monthly according to the foregoing terms, which are still remained the same ever after these crises.
Talking about the deposits, all of the depositors can expect the interest to grow on their deposits according to the current rate of interest. However, if we can still apply for the car loans through Yes Bank is still unclear. It is expected that the limitations of Yes bank are soon going to be wiped away. The Bank will start to get back in the same form as soon as possible. All of the Schemes, agreements, bond, deeds, contracts, grants and other instruments shall be effective to an extent and in same manner as applied before RBI scheme.