Yes Bank crisis : No affect on Arunachal Pradesh Rural Bank and Apex Bank

Itanagar                                            By Manoj Singh 

The cheque transaction service (CTS)  service of  Arunachal Pradesh Rural Bank and Cooperative Apex Bank Ltd is temporarily effected due to imposing of a 30 days moratorium by Reserve Bank of India on Yes Bank, says bank authorities.


But within two-three days this problem will be solves as we are arranging to take this service from other banks Like, SBI, HDFC and ICICI. officials said.

Clarifying the rumor, Arunachal Pradesh Rural Bank, Chairman, Dr. Deepak Kumar Gupta has issue a public notice stating that” Arunachal Pradesh Rural Bank(APRB) is not affected by any means in view of recent crisis developed in one of the Private Sector Banks. APRB is a Government Bank and is sponsored by SBI, which is the mightiest and strongest Bank in India.

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APRB had been utilizing the Yes Bank’s technology platform to clear cheque nationally. This service is now shifted to other Bank to improve the customer services. We would like inform the public that their money is fully safe and protected. All are cautioned against any rumor and get misled”.

The cash of customers are safe and secure. Chairman added.

On the other hand , Arunachal Pradesh state Cooperative Apex Bank Ltd, Managing Director, Tsering Thongdok also issued a public notice stating that “Apex Bank had introduced various Technology Base Banking Services like NEFT/RTGS, ATM, DBT/PFMS, CTS etc for customer through Yes Bank Ltd. With the imposition of the Moratorium on the Yes Bank by the GOI, this service are temporarily effected, However the normal business of Apex Bank is not affected. We have taken up the matter with concern Authorities and the matter will be resolved very soon”.

Thongdok further requested the customer of Apex Bank not to be panic and don’t go with the rumors going on in the Social Media, and their cash in bank in safe and secure.

It must be noted that  Reserve Bank of India (RBI) on March 6 has blocked the cheque transaction service (CTS)  for more than four dozens of financial institution including the Yes Bank. Two financial Institution which include Arunachal Pradesh State owned Cooperative Apex Bank Ltd which have 37 branches with four lakhs customers and Arunachal Pradesh Rural Bank with 30 branches and around two lakhs customers may be affected and customers of these two banks are under confusion of their cash deposited.

But now people will feel relief after the notice issued by both of the bank authorities.


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