Yes Bank crisis: UP Transport Corp to withdraw Rs 38 crore deposit

Of total Rs 423 crore in term deposit, the Corp had Rs 385 crore 3 months back

Amid the unfolding Yes Bank crisis, the Uttar Pradesh State Road Transport Corporation (UPSRTC) has initiated the process of withdrawing its term deposit of about Rs 38 crore with the private banker.

The corporation has written an official letter to the manager of Yes Bank’s local branch in Lucknow for getting its amount back with the applicable interest, UPSRTC managing director Raj Shekhar told Business Standard today.

In fact, the total amount invested by the UPSRTC with the Yes Bank over the past two years stood at nearly Rs 423 crore, of which Rs 385 crore had been withdrawn three months back