Yes Bank files po­lice com­plaint

The Times of India (New Delhi edition) - - Times Global - TIMES NEWS NET­WORK Yes Bank stock

Mum­bai: Af­ter its shares suf­fered a bat­ter­ing on the stock ex­changes ear­lier this month, Yes Bank has filed a com­plaint with the Mum­bai cy­ber­crime cell against per­sons re­spon­si­ble for spread­ing ru­mours about the lender’s health.

The bank has asked the po­lice to form a multi-dis­ci­plinary team of ex­perts for de­tect­ing the ori­gin of fake news and as­sess the short-sell po­si­tions, held ei­ther di­rectly or in­di­rectly by such ac­cused per­sons. The bank’s share price had fallen by over half from nearly Rs 72 on Septem­ber 11to Rs 32 on Oc­to­ber 1( see­graphic).

At the time of the crash, the bank had at­trib­uted it to one of the pro­mot­ers’ shares be­ing forcibly sold by lenders who were hold­ing the stake in pledge. “Over the past few days, some mis­cre­ants have been spread­ing false in­for­ma­tion and ma­li­cious ru­mours about Yes Bank on What­sApp and other so­cial me­dia plat­forms to cre­ate panic and fear in the minds of its de­pos­i­tors,” the lender said.

It added that the mes­sages at­tempt to por­tray the bank in poor light and are in­tended to tar­nish its im­age in the eyes of its de­pos­i­tors, stake­hold­ers and the gen­eral pub­lic.

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