Nagpur university has Rs 191 crore with Yes Bank, says official

Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU) has an account with Yes Bank, an official informed during its senate meeting.

With the RBI imposing a moratorium on Yes Bank, about Rs 191 crore of Nagpur University are stuck with the crisis-hit private lender, an official said on Friday.

Yes Bank, corporate office and branch in Mumbai.(Mint)

Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU) has an account with Yes Bank, an official informed during its senate meeting.

Senate member of RTMNU Pravin Udapure raised the issue on Friday, seeking information as to how much money the varsity has with Yes Bank.

Accounts officer Raju Hiwase informed the senate that the varsity has fixed deposits of about Rs 191 crore with Yes Bank.

Asked whether it will affect the university’s financial transactions, Hiwase told PTI later that it will not have any impact.

“But we will approach the Reserve Bank seeking a transfer of funds from Yes Bank or clarity on these funds’ status,” he added.

The RBI on Thursday imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3. It also superseded the board of the bank.