Yes Bank complains fake news hampering stocks

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Private lender Yes Bank informed the exchanges that it has lodged a complaint with Mumbai Police and Cyber Cell against the dissemination of fake news about the bank's 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 either directly or indirectly by such accused persons.

"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 company said in an exchange filing on Sunday.

"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 added.

The lender further stressed that it remains committed to protect the interest of all its valued stakeholders and promises to take strong steps against the panic mongers.

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