An offer will be sent by YBL to all the eligible borrowers for a pre-approved loan which the borrower may choose to accept. What will be the eligibility criteria for MSMEs to avail the benefit of the Scheme? A. NEW DELHI: In a big relief for depositors, Yes Bank on Wednesday announced that it has resumed complete banking services, which was stopped after the Reserve Bank of India (RBI) placed it under moratorium earlier this month. Such Corporate customers, in case they wish to opt out of the Extended Moratorium Scheme, are requested to make payment of the Total Account Due (TAD), as per their May 2020 statement on or before June 9,2020. — YES BANK (@YESBANK) 1584536656000 On March 5, the Reserve Bank imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor after it found that the new management was unable to raise the urgent core capital which had fallen much below the mandated level. All Corporate customers who are part of Extended Moratorium Scheme, their Credit Card shall be in the temporary blocked status after June 9,2020 till the Extended Moratorium Period. Corporate customers, who are not part of the extended moratorium scheme will continue to receive regular statement as per their existing billing cycles and will continue to be governed by the terms and conditions with respect to the credit free period, applicable fees and interest as mentioned in Credit Cards Most Important Terms and Conditions (MITC). If the customer opts for this scheme or is unable to pay his dues during the moratorium period, then the repayment schedule for such loans will be deferred by up to three months. In line with RBI guidelines, the Bank will continue to charge or accrue interest during the period of moratorium. Q3. The moratorium covers all unpaid principal and interest dues for the month of March, 2020 and all principal and interest amounts falling due in the months of April and May, 2020. The Reserve Bank of India (RBI) issued the COVID-19 – Regulatory Package notification on March 27, 2020.Further, on May 23,2020, RBI announced an extension of the Moratorium Scheme till August 31, 2020.

The principal shall be repaid in 36 instalments after the moratorium period is over. The eligibility criteria under the Scheme are as under: All MSME borrower accounts with combined fund based outstanding loans across all Lending institutions up to Rs. What is the Extended Moratorium Scheme (June 1, 2020 – August 31, 2020)​? The unpaid EMIs along with the accrued interest have been added to balance outstanding. Hence, you are requested to clear your outstanding dues or default pertaining to the period prior to March 01, 2020, for which the extant IRAC and provisioning norms shall apply. This is a pre-approved loan. Q. Q. I understand that the RBI’s COVID-19 Regulatory package allows Banks to reassess working capital requirements. For all Corporate customers availing the extended moratorium scheme, auto debit will not be triggered during the extended moratorium period.

Credit under GECL would be up to 20% of the borrower’s total outstanding credit up to Rs. Q. I am a borrower who has been affected by the COVID-19 situation. In case I DONOT opt for moratorium, but am unable to pay my instalment/interest during the moratorium period? If moratorium has not been processed on your card account, then your application did not meet the requirements for granting moratorium. A. Mumbai: The moratorium on YES Bank will be lifted at 6 pm on March 18, the third working day after the YES Bank reconstruction scheme comes into force, the government notified late on Friday. For making such request, you will need to write to your Relationship Manager to take the assessment forward. Please refer to communication sent by YES BANK through Email and SMS to Authorized Signatory’s registered details to avail the Extended Moratorium Scheme, Participation in the moratorium scheme is entirely voluntary and it is understood, that the participation by the Corporate customers shall be deemed to have been made on a voluntary basis. approximately 11 additional EMIs (which will include the three EMIs pertaining to the moratorium) due to the three months moratorium. Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more. Q. No additional collateral shall be asked by YBL for additional credit extended under GECL. Will this not lead to reduction of our available CC or OD limit as the interest will get debited into the utilised amount and therefore consume the limit? Q. Q. I am a borrower who has been affected by the COVID-19 situation. Q. If so, to what extent? What is Guaranteed Emergency Credit Line (GECL)? Q. In accordance with the notification, YES BANK offers a moratorium of up to three months in respect of all term loans on payment of all instalments (including principal and interest) falling due between March 01, 2020 and May 31, 2020, including interest deferment benefit available to cash credit or overdraft facility. Yes, a moratorium period of one year on the principal amount shall be provided for GECL funding. Based on this, the Bank will make an independent assessment of your eligibility and review your working capital cycle or drawing power. For CC/OD facility, the accrued interest shall be payable immediately after the completion of the moratorium period on June 01, 2020. This will alert our moderators to take action. A. Non-payment of the dues can result in the Credit Card being cancelled/blocked as per the terms and conditions of your Credit Card. YES BANK recommends that customer with adequate funds and cash flows continue to pay the instalments (to the extent possible) within the due date to avoid additional interest and elongation of the tenure. Sie betreibt über 1.120 Filialen in 375 Städten und hat in ganz Indien verteilt über 1.450 Geldautomaten. The Reserve Bank of India today removed the moratorium imposed on Yes Bank, thereby enabling customers to access full banking services from March 19. Which loan products are eligible for moratorium? Borrower(s) who had not opted-in for moratorium benefit during the previous moratorium ending on May 31, 2020 and had honored the dues during the period March 01, 2020 to May 31, 2020, can opt-in for extended moratorium benefit i.e.
How is the increase in EMI tenor calculated?

Q.

The increase in tenor resulted in increase in amount that I will be paying back to the Bank on my Credit Card EMI/Loan EMI which seems to be more in comparison to Moratorium interest. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Although the bank expects that there may not be a rush to withdraw cash, still it is prepared for any possible surge in withdrawals.
if the EMIs for the months of March, 2020 to June, 2020 are paid, and the moratorium for the months of July and August, 2020 has been availed, then the loan tenure will be extended by corresponding period. YES BANK reserves the right to determine the eligibility of a Corporate customers, YES BANK reserves the right to disqualify or exclude any Corporate customers from the moratorium scheme, if any fraudulent activity being carried out for the purpose of availing the moratorium scheme or otherwise is identified by the Bank. Q. Can I continue to spend on my Credit Card if I am part of the Extended Moratorium Scheme on my Credit Card? Since I am unable to repay, will my Credits Card be cancelled/blocked? We are in the process of finalizing our policy to restructure Credit Card EMI/Loan EMIs for impacted customers as per regulatory guidelines. If I avail the moratorium, we understand as per RBI guidelines that interest will continue to accrue. If I had opted Moratorium 1.0 (for the period of March, 2020 to May, 2020), is it mandatory to apply for moratorium 2.0 (for the period June, 2020 to August, 2020) again to avail the benefit of moratorium? A. Die Yes Bank ist eine indische Bank. Latest GST News - Insights on GST - YES Bank, GUARANTEED EMERGENCY CREDIT LINE SCHEME FOR MSME, YES:Head-Startup - Curated Banking Solutions for Startups, Corporate Social Responsibility & Positive Impact, Policy Advocacy through Thought Leadership, University School Relationship Management, Steps to report an unauthorized transaction, Services for Senior Citizens & Customers with Disabilities. Your credit card dues will be payable on the due date mentioned in the statement. Q. I had not opted in for Moratorium 1.0 (for the period of March, 2020 to May, 2020) and want to Opt in for Moratorium 2.0 (for the period June, 2020 to August, 2020).


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