Yes financial institution gave a giant blow to varied governments, received so many crores of rupees caught

by Jeremy Spirogis
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The Maharashtra authorities has sought particulars of deposits of varied personal sector banks after the Yes Bank incident. The state has sought data from varied civic our bodies, state public sector undertakings, autonomous our bodies and different authorities departments concerning the cash caught in Yes Bank, in addition to full particulars of their funds / deposits / wage accounts / and many others in different personal sector banks. Have requested to provide.

On Friday, Chief Minister Uddhav Thackeray had requested to keep away from depositing state authorities funds in personal sector banks. He stated that solely the providers of public sector banks ought to be used. At least three main civic our bodies have admitted that their Rs 1,125 crore deposit is with Yes Bank. <! –


After this the state authorities took this step. Pimpri-Chinchwad Municipal Corporation (PCMC), Nashik Municipal Corporation (NMC) and Nashik Nigam Smart City Development Corporation Limited (NMSCDCL) have admitted that they’ve deposits of Rs 800 crore and Rs 310 and Rs 15 crore respectively in Yes Bank. PCMC Corporation Commissioner Shravan Hardikar advised the media that he had lowered his deposit in Yes Bank from Rs 1,100 crore to Rs 800 crore and likewise deposited Rs 4,000 crore in different banks.

Last December, Mumbai Mayor Kishori Pednekar stated that the Brihanmumbai Municipal Corporation is contemplating transferring a few of its accounts from a non-public sector financial institution to PSBs as a protected various. Similarly, the state authorities is contemplating taking steps to switch the accounts of its police division from Axis Bank to PSB after the Yes Bank drawback, an official stated.

Basant Naik Shetty Swavalamban Mission President Kishore Tiwari stated that there are various examples of incorrect choices by the authorities when massive accounts had been transferred from PSBs to non-public sector banks on the idea of excessive curiosity and higher service however now to return to PSBs The state authorities's transfer has been appreciated. Tiwari stated that other than personal sector banks, he’s writing a letter to the chief minister to switch all authorities accounts from cooperative banks to public sector banks.

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