Yes Bank Crisis: Nagpur University's Rs 191 crore stuck with the crisis-hit bank
Yes Bank Crisis: Nagpur University's Rs 191 crore stuck with the crisis-hit bank
Nagpur University's whopping sum of Rs 191 crore is stuck with the crisis-hit Yes Bank, an official said today. The RBI had on Thursday imposed a moratorium on the crisis-hit private lender, capping the withdrawal limit at Rs 50,000. Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU) has an account with Yes Bank, an official informed during its senate meeting. Senate member of RTMNU Pravin Udapure raised the issue on Friday, seeking information as to how much money the varsity has with Yes Bank.
Accounts officer Raju Hiwase informed the senate that the varsity has fixed deposits of about Rs 191 crore with Yes Bank.
Asked whether it will affect the university's financial transactions, Hiwase told PTI later that it will not have any impact.
"But we will approach the Reserve Bank seeking a transfer of funds from Yes Bank or clarity on these funds' status," he added.
The RBI on Thursday imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3. It also superseded the board of the bank.
