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This is an archive article published on March 21, 2020

Pune: Yes Bank transfers PCMC’s Rs 984 crore deposits to Bank of Baroda account

A top official of Yes Bank told The Indian Express, “We had received permission from the RBI to transfer the amount. Therefore we transferred the amount through NEFT process to Bank of Baroda, which is as per PCMC’s request...,” he said.

yes bank, yes bank crisis, rana kapoor, yes bank defaulters, Pimpri-Chinchwad Municipal Corporation, pune news, indian express The amount was transferred through NEFT.

Pimpri-Chinchwad Municipal Corporation’s Rs 984 crore deposits have been transferred by Yes Bank to the civic body’s saving account in Bank of Baroda, a public sector bank.

“Our deposits worth around Rs 984 crore were transferred by Yes Bank to our saving account with Bank of Baroda. Today, we verified the deposited amount,” said PCMC accounts chief Jiteendra Kolambe.

A top official of Yes Bank told The Indian Express, “We had received permission from the RBI to transfer the amount. Therefore we transferred the amount through NEFT process to Bank of Baroda, which is as per PCMC’s request…,” he said.

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Kolambe said on Thursday morning, civic officials had approached Yes Bank seeking to withdraw the amount. “We had submitted a letter to the RBI, informing it about our deposits with the bank and also conveyed our decision to withdraw the deposits from the bank, after moratorium was imposed,” he said.

Kolambe said Yes Bank officials had promised them the amount would be transferred through NEFT process. “Though it was transferred Thursday, the amount was reflected in our account today (Friday),” he said.

On Wednesday, Shiv Sena MP Shrirang Barne had met Minister of State for Finance Anurag Thakur and urged him to transfer PCMC’s Rs 984 crore immediately as it would otherwise affect the civic body’s public projects. Thakur had told him that in two days, the amount would be transferred back in PCMC’s account with other bank.

Manoj More has been working with the Indian Express since 1992. For the first 16 years, he worked on the desk, edited stories, made pages, wrote special stories and handled The Indian Express edition. In 31 years of his career, he has regularly written stories on a range of topics, primarily on civic issues like state of roads, choked drains, garbage problems, inadequate transport facilities and the like. He has also written aggressively on local gondaism. He has primarily written civic stories from Pimpri-Chinchwad, Khadki, Maval and some parts of Pune. He has also covered stories from Kolhapur, Satara, Solapur, Sangli, Ahmednagar and Latur. He has had maximum impact stories from Pimpri-Chinchwad industrial city which he has covered extensively for the last three decades.   Manoj More has written over 20,000 stories. 10,000 of which are byline stories. Most of the stories pertain to civic issues and political ones. The biggest achievement of his career is getting a nearly two kilometre road done on Pune-Mumbai highway in Khadki in 2006. He wrote stories on the state of roads since 1997. In 10 years, nearly 200 two-wheeler riders had died in accidents due to the pathetic state of the road. The local cantonment board could not get the road redone as it lacked funds. The then PMC commissioner Pravin Pardeshi took the initiative, went out of his way and made the Khadki road by spending Rs 23 crore from JNNURM Funds. In the next 10 years after the road was made by the PMC, less than 10 citizens had died, effectively saving more than 100 lives. Manoj More's campaign against tree cutting on Pune-Mumbai highway in 1999 and Pune-Nashik highway in 2004 saved 2000 trees. During Covid, over 50 doctors were  asked to pay Rs 30 lakh each for getting a job with PCMC. The PCMC administration alerted Manoj More who did a story on the subject, asking then corporators how much money they demanded....The story worked as doctors got the job without paying a single paisa. Manoj More has also covered the "Latur drought" situation in 2015 when a "Latur water train" created quite a buzz in Maharashtra. He also covered the Malin tragedy where over 150 villagers had died.     Manoj More is on Facebook with 4.9k followers (Manoj More), on twitter manojmore91982 ... Read More


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