New Delhi: Vadodara Smart City Development Company withdraws Rs 265 crore from bank one day before Reserve Bank of India (RBI) set a withdrawal limit of Rs 50,000 for Yes Bank customers on Thursday (March 5, 2020) .
According to information received from sources quoted on Friday, the amount was deposited in another bank. Since Thursday, Yes Bank has set a withdrawal limit of Rs 50,000 for its depositors. This arrangement has been made for 30 days.
In the case, Deputy Commissioner (Administration) of Vadodara Municipal Corporation, Sudhir Patel said that the amount was received from the Center as part of the grant under the Smart City Mission and deposited in a local Yes Bank branch. He considered the problems of Yes Bank two days before and this amount was deposited in Bank of Baroda.
Explain that after the withdrawal limit was fixed, calls from troubled customers were kept in different branches of the bank and long queues were seen in the branches. Customers vented their anger on social media. There have also been incidents of heated arguments between bank employees and customers. Reserve Bank has dissolved the board of directors of the bank, Prashant Kumar, former deputy managing director and chief financial officer of State Bank of India, has been appointed as the bank’s administrator.
