Yes Bank withdrawal cap: Airtel Payments Bank issues notice, PhonePe CEO apologises, CRED clears the air
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Business - March 6, 2020

Yes Bank withdrawal cap: Airtel Payments Bank issues notice, PhonePe CEO apologises, CRED clears the air

Airtel Payments Bank has issued a notice with regards to the recent moratorium imposed by the RBI (Reserve Bank of India) on Yes Bank. Although the bank is listed as the service provider for Airtel on NPCI (National Payments Corporation of India), Airtel Payments Bank sources confirm that Yes Bank is not their service provider. The firm has even tweeted that all its services are unaffected.

The tweet also mentions that Airtel Payments Bank will closely monitor the situation and developments on Yes Bank and will make sure it provides a seamless service to its customers.

If you still have any query or need some clarification on the matter, it is possible to email at wecare@airtelbank.com. Airtel mobile users can also call on 400 or on 8800688006 from any other mobile network.

PhonePe, a popular digital payment service in India, apologised on Twitter for a brief outage. The firm’s founder and CEO Sameer Nigam tweeted that the service went through a long outage and that the team is working to solve the issue. He added that Yes Bank, which is PhonePe’s partner bank, was placed under moratorium by RBI, which led to the outage.

Kunal Shah, founder of CRED, a credit card payment service, has also confirmed that the services won’t be affected because CRED uses Axis Bank UPI and not Yes Bank UPI. Shah added in a tweet that the company works with multiple banks on settlements as well.

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