Panicked Yes Bank customers were seen queuing up at the bank's ATMs at various locations, but to no avail as most cash-dispensing machines ran dry, after the Reserve Bank placed the crisis-hit lender under a moratorium.

However, many customers said they were able to withdraw the stipulated amount of Rs 50,000 through cheques at Yes Bank branches.

Customers are also facing trouble because net banking services are not working and some even complained that their credit cards are also not working.

As the Reserve Bank has superseded the board of the private sector lender on a precarious financial condition and has appointed a former SBI executive as its administrator, customers cannot withdraw more than Rs 50,000 under the moratorium period till April 3, 2020.

Several customers at a bank branch in central Delhi said they faced no problem while withdrawing the sum of Rs 50,000 through cheques.

“Internet banking is not working, even the credit card has stopped working; however, I withdrew my amount through cheque,” said Lalit Kumar, a Yes Bank customer of its Gole Market branch here.

At an ATM in Ghaziabad, Yes Bank customers queued up to withdraw money, but to no avail as there was no cash.

Most of the Automated Teller Machines (ATMs) wore a deserted look due to non-availability of cash.

A Delhi-based customer said he was able to withdraw limited cash of about Rs 3,000-4000 only from an ATM, adding the cheque withdrawal helped him take out the remaining amount under the moratorium restriction.

However, a display at the Post Office situated at Parliament Street read: “No Yes Bank cheques will be cleared until further orders from the RBI.”

Besides, people also complained that Yes Bank facilitated meal cards are not working.

Payment facilitator for small businesses Instamojo's CEO & Co-founder Sampad Swain said the company will be temporarily withholding payouts to merchants having Yes bank accounts until further clarity on the situation.

“This is to ensure that no merchant's funds get blocked. As an alternate, we have provided our merchants the option to change their registered bank from Yes bank to another account,” Swain said.

To soothe the hassled customers, Yes Bank's administer Prashant Kumar in a statement issued on Friday said that there was no need for panic and the bank was working to bring the situation under control before April 3 -- time till when the moratorium remains in place.

“The current moratorium has been brought into effect keeping the depositors' interest in mind and towards restoring their confidence.

“A solution is being worked upon to revive the Bank well before the moratorium period of thirty days ends. The bank is also taking necessary steps to ensure seamless transactions for the customers. We assure the depositors that their money is safe and there is absolutely no reason to panic,” Kumar said.

Fintech start-up in payment and transaction technology space PayNearby said: “At PayNearby, its business as usual. Our systems are up and running without any disruption. We are a strong technology backed fintech company and have multiple banking partners.”

“Yes Bank has been a very valuable partner in our journey and we are confident that they will soon bounce back and we will be able to continue working together again,” said Anand Kumar Bajaj, MD & CEO, PayNearby.

Yes Bank also said it remains available to address all queries and clarifications. Depositors are requested to get in touch with the nearest branch for any assistance.

“We would like to inform you that our ATMs are now functional. You can locate the ATM nearest to you here: https://community.yesbank.in,” read the Yes Bank tweet, tagging the twitter handles of the Finance Ministry and the Reserve Bank.

“Our working hours are Monday-Saturday (9 am to 8 pm),” it added.

Stock of Yes Bank came under heavy selling pressure on Friday and plunged by more than 84 per cent intra-day before closing the day down by 56 per cent at Rs 16.20 apiece on BSE.

Country's largest lender SBI, which has evinced interest for 49 per cent stake in the private sector lender, said it is evaluating the draft reconstruction scheme for Yes Bank.

“We have received draft scheme of reconstruction for Yes Bank. Our investment and legal team is doing due diligence,” Chairman Rajnish Kumar told reporters in Mumbai on Saturday.

Bank officials are doing due diligence of the draft scheme, he added.

He also said many potential investors have approached SBI after seeing the draft scheme

On Friday, the RBI announced a draft scheme of reconstruction for cash-starved Yes Bank.

In its draft 'Yes Bank Ltd. Reconstruction Scheme, 2020', RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion.