YES Bank stock jumped nearly 25 percent in yesterday’s session as the news came about SBI taking a stake in the bank. However, the euphoria was short-lived and the stock declined 34% today after the government announced few curbs on YES Bank.

The government has announced that depositors will not be allowed to withdraw more than 50,000 from their accounts. RBI’s announcement has witnessed severe criticism from people on social media. This marks a failure of major private sector bank in India.

RBI has taken over the main responsibilities at YES Bank. Former State Bank of India CFO Prashant Kumar has been appointed the administrator. Also, F&O trading will be halted in the scrip.

"Market was not prepared for moratorium on Yes Bank," Nilesh Shah, MD of Kotak Mahindra AMC said on CNBC-TV18 today. Market analysts were surprised about severe action on YES Bank.

The RBI notice said, “The Central Government hereby also directs that during the period of moratorium, the Yes Bank Limited, Mumbai, Maharashtra (the said banking company) shall not, without the permission in writing of the Reserve Bank of India.”