Small lenders that cleared cheques via Yes Bank stuck

Yes Bank’s disconnect from various payments and fund transfer networks is affecting over 50 small banks, including cooperative, foreign and regional rural banks. With the moratorium shutting Yes Bank from the cheque clearing and real time gross settlement (RTGS) systems, several other banks that depend on the troubled private lender are also shut out.

from Banking/Finance-Industry-Economic Times https://ift.tt/337ArmR