TIRUPATI: The Reserve Bank imposed a moratorium on Yes Bank on Thursday due to a financial crisis. A few months ago, the Tirupati temple in Andhra Pradesh had withdrawn Rs 1300 crore from the bank. Some raised doubts that Tirumala Tirupati Devaswom withdrew such a large amount from the account after foreseeing in advance the announcement of the moratorium.

The office bearers have come up with an explanation. ‘Withdrew Rs 1300 crore in last October. This has nothing to do with the crisis. The amount was withdrawn as the deposit tenure matured in October. There is nothing unnatural about that’, the authorities informed.

The withdrawals for customers from Yes Bank have been capped at Rs 50,000. The moratorium was for a month following the directive of the RBI. This was a major concern for the investors.