Fake News Alert: Yes Bank lodges complaint against rumours on financial health

yes_bankPrivate lender Yes Bank on Sunday filed a complaint against the fake news pertaining to its poor financial health with Mumbai Police and Cyber Cell. The complaint is filed post the major fall in bank’s shares last week.

The news on the bank’s declining condition has gone viral on social media.

The news has sparked a lot of chaos as promoters cutting their stake and shares of the company resulting in major drop at stock exchanges during the last few days. “Yes Bank has lodged a complaint with Mumbai Police and Cyber Cell against the dissemination of fake news and spread of rumours about the bank’s financial health on WhatsApp and other social media platforms,” the bank said in a regulatory filing.

The bank has requested the authorities to constitute a multi-disciplinary team of experts for investigating the genesis of the fake news and assess the short-sell positions.“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 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.

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