One of India's top banks Yes Bank has found itself in a controversy after the Reserve Bank of India imposed a moratorium on the bank for 30 days and capped withdrawals at Rs 50,000 earlier this week. While the common man suffers, Bollywood also finds itself in a soup. A little birdie tells us that a few Bollywood producers, including three big banners, have their production houses' salary accounts with the notorious bank. Given the cap imposed, producers, production houses and their employees are having difficulties with the transactions. While everyone tries to find the path through the muck, we hear that a Bollywood producer is cracking a few jokes on the situation. Apparently, there are a few banners and producers who have borrowed money and taken overdrafts from the bank for their projects. One of the three B-Town banners has borrowed a whopping Rs 300 crore from Yes Bank. With the crisis making the headlines, the producer running the banner jokes about not having to repay the bank. Talk about being insensitive!
Meanwhile, an insider tells us that another production house, whose movies have not been performing exceptionally great at the box office, has also borrowed money and has dealt with the bank for their productions. If that wasn't enough, another production house floated its IPO last year with the help of Yes Bank and now, they have also landed in trouble due to the scam. One of India's top banks Yes Bank has found itself in a controversy after the Reserve Bank of India imposed a moratorium on the bank for 30 days and capped withdrawals at Rs 50,000 earlier this week. While the common man suffers, Bollywood also finds itself in a soup. A little birdie tells us that a few Bollywood producers, including three big banners, have their production houses' salary accounts with the notorious bank. Given the cap imposed, producers, production houses and their employees are having difficulties with the transactions.
While everyone tries to find the path through the muck, we hear that a Bollywood producer is cracking a few jokes on the situation. Apparently, there are a few banners and producers who have borrowed money and taken overdrafts from the bank for their projects. One of the three B-Town banners has borrowed a whopping Rs 300 crore from Yes Bank. With the crisis making the headlines, the producer running the banner jokes about not having to repay the bank. Talk about being insensitive! Meanwhile, an insider tells us that another production house, whose movies have not been performing exceptionally great at the box office, has also borrowed money and has dealt with the bank for their productions. If that wasn't enough, another production house floated its IPO last year with the help of Yes Bank and now, they have also landed in trouble due to the scam.