In the first week of March, Yes Bank was placed under moratorium and withdrawal limits of upto Rs 50,000 were imposed, due to which its banking operations were affected. In the process, customers associated with Yes Bank or partnered institutes faced uncertain payment patterns.
To ensure an interrupted service, LoanTap, online lending app, has taken all the steps to ensure smoothen the processes. At the same time, the company is actively taking steps to ensure that the customers don’t bear the brunt of this unforeseen incident.
Satyam Kumar, Co-Founder, LoanTap said, "We are ensuring that no penal charges or penal interest are levied on those customers whose repayment is delayed due to moratorium on Yes Bank." The company will also ensure that there is no impact on customer's credit scores. Its customer service team is striving to provide seamless service and convenience to the customers.