RTMNU has crore Rs 191 with yes bank

With the RBI imposing a moratorium on Yes Bank, Nagpur University’s Rs 191 crore is trapped with the crisis-hit private lender, one official said Friday.

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

RTMNU Senate member Pravin Udapure raised the question on Friday, seeking information about how much money the varsity has with Yes Bank.

Account officer Raju Hiwase told the senate that the varsity had fixed deposits with Yes Bank on Rs 191 crore. Asked if it would affect financial transactions at the university, Hiwase said it would have no effect.

On Thursday the RBI placed a moratorium on Yes Bank, limiting withdrawals per depositor to Rs 50,000 until April 3. It also override the bank’s board.

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