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Yes Bank files complaint against 'fake news', attempt to scare depositors

Yes Bank seeks multi-disciplinary team of experts for detecting the origin of the fake news.

Press Trust of India  |  New Delhi 

YES Bank makes two senior management appointments; stock rises 5.5%
Yes Bank police complaint alleges fake news about its finances.

on Sunday said it has file a police complaint against "and rumours" on social media about its finances, saying there was an attempt to scare depositors.

The bank complained to the Mumbai Police's cyber cell after its promoters cut their stake and the company's shares took a beating at stock exchanges.

"has lodged a complaint with Mumbai Police and Cyber Cell against the dissemination of and spread of rumours about the bank's financial health on WhatsApp and other social media platforms," the bank said in a regulatory filing.

It requested authorities to form a multi-disciplinary team of experts for detecting the origin of the and assess the short-sell positions, held either directly or indirectly, by such accused persons.

"Over the past few days some miscreants have been spreading false information and malicious rumours about on WhatsApp and other social media platforms to create panic and fear in the mind of its depositors. The messages attempt to portray the bank in poor light and are intended to tarnish the image of the bank in the eyes of its depositors, stakeholders and the general public," the bank said.

"The bank appeals to its trusted patrons to be cautious of false information circulating against it and assures that its financial position continues to be absolutely safe and sound," it said.

First Published: Sun, October 06 2019. 16:59 IST