As customers press SOS button, Twitterati busy flooding memes on crisis-hit Yes Bank
The Reserve Bank of India (RBI), in consultation with the government, on Thursday put the cash-strapped private sector lender under moratorium for a period of 30 days, restricting the overall withdrawal limit of Rs 50,000.
Reacting to the developments, a Twitter user @Abhishekmissh posted, "Given the way our banks are toppling, I think the promise made was to make India a 3-trillion economy. Three trillion paise that is. #yesbankcrisis."
A 'reporter-FM joke', shared by @dilippanawar with #yesBankcrisis, read: "Reporter: FM, #YesBank has gone bad. FM: I don't care my account is in ICICI."
Another user @i_theindian wrote: "History repeats itself. #DeMonetisation #yesbankcrisis", posting a picture of people sitting in a line with closed shutters in the background.
Kshitiz2420, whose bio reads 'I make jokes when I m uncomfortable', posted "Yes Bank right now" with a movie actor playing role of a soldier, calling from a fixed-line saying, "Halat Bohat Kharab hai (the situation is very tight now)."
A post by account 'Doctor Nirav Modi @niiravmodi' read, "I am a Hindu, last year, the government shut PMC Bank 10 days before Diwali where my account was, I lost all my savings, I couldn't celebrate Diwali. Then I opened my bank account at #YesBank and just 5 days before Holi, I lost my rupees again. Modi ji, just tell me why only Hindus?#yesbankcrisis."
Dr AbhyudayOm (@craziestlazy) wrote "worthless cheque" with an animated picture of a cheque written Yes Bank cheque of Rs 5 crore.
Host of other users posted memes ranging from a picture of smiling former prime minister Manmohan Singh telling himself "History will be kinder to me" #yesbankcrisis.
User Sreevathsav S Naik @sreevathsav posted a screenshot of former Yes Bank co-founder Rana Kapoor of what he once famously said, "Diamonds are forever. My promoter shares of @YESBANK are invaluable to me."
Shares of Yes Bank dipped Rs 84.93 per cent to an intra-day low of Rs 5.55, its 52-week low. The shares came under massive selling pressure on Friday, plunging 56 per cent at close to Rs 16.20 apiece on the BSE.
The RBI in a latest development said the country's largest lender state-owned State Bank of India (SBI) has expressed willingness to invest in the cash-strapped Yes Bank.
On the other hand, the bank's customers were also seemed distressed on the microblogging site, sending messages to the bank saying they were facing net banking issues, wanted to close their account and the likes. This apart, long queues of customers could be seen at various bank branches and ATMs to take out money.
The bank has been responding to the customer queries both online and offline, assuring them that there deposits are safe.
Even as Finance Minister Nirmala Sitharaman has assured that the bank will not be allowed to go bust, RBI Governor Shaktikanta Das said Yes Bank resolution efforts are aimed at maintaining "stability and resilience" in the Indian financial sector and the difficulties will be overcome "very swiftly". KPM HRS