Railways asked employees to shift from Yes Bank to their salary account, know what is the reason

Asked for new account information

(employees to shift from Yes Bank to their salary account) Personnel Department of Railway’s Delhi Division has appealed to the employees by issuing such a letter that after shifting your account from Yes Bank to another bank, make the information of your new account available to the Railways so that next month’s salary can be sent to it. Could. The Department of Personnel has also released the list of employees whose bank account is in Yes Bank.

States also withdraw money

After the crisis of Yes Bank, the State Governments have started withdrawing their deposits in private banks. On this, the Reserve Bank of India has asked the state governments not to withdraw their money from private sector banks and their money is completely safe. The central bank said that the notion that deposits in private sector banks are not safe is wrong.

Reserve Bank wrote a letter

The Reserve Bank has written a letter to the Chief Secretaries of all states about this. The letter said that the withdrawal of deposits from private sector banks could affect the stability of the banking and financial sector. The Reserve Bank has to write this letter because there are reports that some state governments have advised transferring their funds from their governing bodies and other units to private sector banks to public sector banks. After the crisis in the private sector Yes Bank, such a step is being taken by the state governments. The Reserve Bank has dissolved the board of directors of Yes Bank and has set a withdrawal limit for the bank’s depositors.

Reserve Bank said that money is safe in private banks

The Reserve Bank wrote in the letter, “We believe that such a step will affect the stability of the banking and financial sector.” The notion that money is not safe in private banks is beyond facts. It is not in the interest of the financial system in general and the banking system in particular. ”

The central bank once again asked to consider

The central bank has urged the state governments that if they have taken any such decision or are in the process of taking it, they should rethink it. The Reserve Bank has adequate powers to regulate and monitor private banks. The central bank is using these rights to ensure that depositors’ money is fully protected. The Reserve Bank said that in the past private sector banks have been resolved in such a way that the depositors are not harmed. The letter said that after increasing the trust of the depositors towards private banks, to prevent them from any kind of trouble, after stopping Yes Bank, the central bank has drafted the plan for it without delay. We are busy finalizing this plan fast.