As PhonePe, that is contingent on the creditor for its trades, couldn’t operate after Yes Bank was put under moratorium payments were changed. It may be mentioned that the personal banking centers of the bank have yet to be operational. Fintech operators that rely on to repay their trades are down.”We really regret the lengthy outage.
We are temporarily unavailable.
We are going through an unscheduled maintenance activity. We apologize for any inconvenience this may cause.
We’ll be back soon.
— PhonePe (@PhonePe_) March 5, 2020
The whole team has been working to get up services asap (when you can ),” the program’s primary executive Sameer Nigam tweeted in the afternoon. Among the nation’s biggest payment systems, PhonePe, is determined by Yes Bank to process its own transactions.
He added the program expects to be reside in a”couple of hours”.Yes Bank put under a moratorium Thursday together with all the RBI superseding its own board and also capping deposit withdrawals.
Yes Bank won’t have the ability make any investment or renew any advance or loan, to renew, pay off any liability or consent to disburse any payment.Yes Bank will headed by the secretary an officer of SBI, Prashant Kumar.He added that the program – among the most well-known ports for UPI trades – expects to be reside in a”couple of hours”.