Yes Bank files complaint against spreading of fake news, rumours on its financial health

The bank has requested the authorities to form a multi-disciplinary team of experts for detecting the origin of the fake news and assess the short-sell positions, held directly or indirectly by the accused.

New Delhi: Yes Bank on Sunday lodged a complaint with Mumbai Police and cyber cell against the dissemination of fake news and spread of rumors about the bank's financial health on WhatsApp and other social media platforms.

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

The bank approached the Mumbai's Cyber Cell after its shares took a beating at the stock exchange, leading to its promoters cutting their stake. 

"Over the past few days, some miscreants have been spreading false information and malicious rumors 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 in a statement.

It assured to protect the interest of all its valued stakeholders of promised to take strong steps against the fear/panic mongers. "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.