How you handle these mandates is the most important aspect and something you should address on top priority. Look at the following points for your understanding.

· If you have a broking account linked to Yes Bank, ask the broker to freeze payouts and change the bank mandate. Most brokers are already holding back payouts to Yes Bank accounts and are asking clients to shift their accounts outside.

· Also modify your bank mandate with your DP as that will ensure that your dividend credits and any buyback credits come into the right account rather than getting stuck in Yes Bank accounts.

· In case of MF SIPs linked to Yes Bank also you need to change the bank mandate immediately. Otherwise, your SIP mandates could bounce. The bank mandate is also necessary when you redeem funds.

· Ensure that Yes Bank is not your default bank account to receive any payouts either for stock trading, demat account, mutual funds, gold bonds or even your insurance payouts. If that is the case, then get it changed immediately.

· Last but not the least, log into your Income Tax website and change Yes Bank mandate. This will ensure that in case of any tax refunds, you don’t end up getting the credit in the wrong bank account!