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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.

Written by Manoj Dattatrye More | Pune | Updated: March 21, 2020 12:45:56 pm
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.

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.

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