Banking Act amendment is credit positive for depositors, says Moody's

Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2BZhJEB