Letter Published in The National UAE on 10Mar 20 Regarding the report India's Yes Bank seizure triggers investor and depositor panic (March 6): the recent cap on the withdrawal limit at 50,000 rupees (Dh2,483) from Indian Yes Bank created panic among depositors recently. The Reserve Bank of India has made its decision on the bank's irregularities and the poor customers will be inconvenienced. Senior citizens were already unhappy with their deposit rates. It is sad that people are worried about their deposits. The Reserve Bank and the government should come forward and assure citizens that their money is safe and work to solve this issue. Even though the RBI has no control over private banks, periodical monitoring for their lending to customers should be done.
K Ragavan, Bengaluru, India
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