The Reserve Bank of India placed Yes Bank under moratorium on Thursday, March 05. The move also reduced the withdrawal limits to ₹50,000 per month.
But as people, mostly with their bank accounts in Yes Bank, started panicking the hashtag #NoBank was trending on Twitter.
Corrected tweet: the average voter, who thought @narendramodi will bring good governance, has been cheated. He/she are losing out in #YesBank collapse. No corporate is crying, no institutional investor is upset, no politician has lost money. Only poor voters did. #yesbankcrisis— RadhakrishnanRK (@RKRadhakrishn) March 6, 2020
No Yes Bank.— Rahul Gandhi (@RahulGandhi) March 6, 2020
Modi and his ideas have destroyed India’s economy.
I am a Hindu, Last year Govt shut PMC Bank 10 days before Diwali where my account was, I lost all my savings, I couldn’t celebrate Diwali— Doctor Nirav Modi (@niiravmodi) March 6, 2020
Then I opened my bank acnt at #YesBank and just 5 days before Holi I lost my ₹ again
Modi ji just tell me why only Hindus?#yesbankcrisis
Aap Chronology Samajhiye— Ali 🔥 (@SayedAliNaqi) March 6, 2020
Modi in 2014 ~ Give me ur votes
Modi in 2015 ~ Give me ur subsidies
Modi in 2016 ~ Give me all ur cash
Modi 2017 -2020 ~ Forget all ur money deposited in banks#YesBank #PMCBank #yesbankcrisis #NoBank
🚨🚨🚨— Mayank (@AZenGuy) March 6, 2020
YES Bank’s chief economist sold Rs 1.9 crore worth of shares by December 2019.
Total offload of Rs 3.5 crore between five insiders – more than three months back! #YesBank #yesbankcrisis pic.twitter.com/jWJTIFxVzo
Chronology:— Samar (@Samar_Anarya) March 6, 2020
1st Bhakts will abuse Nehru and Congrss for everything: happily forgetting that they are there they are because of Nehruvian institutions.
2. Then Modi will destroy them and they would beg and plead..#yesbankcrisis #Yesbank pic.twitter.com/rJbAhMF72e
The restrictions have been imposed by the Reserve Bank of India (RBI) due to serious deterioration in the financial position of the private bank.