Satish Gupta, Chairman of Chikhli Urban Cooperative Bank has urged the depositors of 107 UCBs whose CTS arrangements with Yes Bank are adversely affected not to believe rumours doing the rounds on social media.
“Some vested interest are misleading you and your money is not stuck due the failure of Yes Bank” said Gupta whose bank happens to a sub-member of Yes Bank for the CTS arrangement
Several UCBs have tied-up with other banks for the CTS arrangement in a hurry.
Meanwhile, the government of India have notified of their intention to revive the capital-starved Yes Bank. The restrictions on withdrawals from its accounts will be lifted in the “three working days,” the Finance Ministry said in the notification.