The Reserve Bank of India’s (RBI) decision to restrict withdrawals to up to Rs 50,000 until 3 April from Yes Bank came as a shock for depositors, borrowers and investors alike. The decision has also left at least 40,000 Yes Bank debit and forex card holders travelling overseas in the lurch. The helpless customers are now sending SOS messages to the crisis-hit bank seeking help.

The situation is grim for customers having bank’s forex prepaid cards, as they are not in position to pay for their hotel room accomodation, transport and even meal.

“Foreign exchange cards are just like drafts which are also pre-paid devices.

This is an unprecendented crisis with thousands of Indians overseas without any access to their own money,” said a forex-card opeartor on condition of anonymity.

According to reports, several such consumers have tweeted to the bank seeking help as the cards were deactivated. Harsh Wadhwa, a student overseas, who has a Book My Forex multi-currency card, tweeted, “I have to pay the rent but I cannot withdraw it even though there is already money in my card.”

Soumitra Chakraborty, who is in Canada, wrote on Twitter tagging External Affairs Minister S Jaishankar, ‘How are you able to cease my card providers? I’m caught in a tough scenario. This is SOS scenario for me’.

Last week, the RBI  had restricted withdrawals from Yes Bank to Rs 50,000 per depositor due to the private lender’s precarious financial situation. While on March 7, Yes Bank told its customers that they can withdraw money from ATMs using debit cards. Yes Bank had tweeted, ‘You can withdraw cash from Yes Bank and different banks’ ATMs utilizing Yes Bank’s debit card. Thank you on your moderation.’

Meawhile, some reports said that the withdrawal restriction of Rs 50,000 imposed the RBI might be lifted by March 23. April 3 was the deadline of the moratorium placed on the troubled bank.

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