CNBC-TV18’s Yash Jain is apprising us from outside one of Yes Bank's branches in Mumbai to help us understand the ground situation.

Reserve Bank of India imposed moratorium on Yes Bank on Thusdat evening. According to the order, the private lender will not pay depositors more than Rs 50,000 during the moratorium period, irrespective of the number of accounts with the bank.

People tried to withdraw from ATMs which dried up very quickly in the morning.