Yes Bank on Sunday lodged a complaint with Mumbai Police and cyber cell against the spread of fake news and rumours about the private sector lender on WhatsApp and social media platforms.

"Yes Bank has requested the authorities to form a multi-disciplinary team of experts for detecting the origin of the fake news and assess the short-sell positions, held either directly or indirectly by such accused persons," the private sector lender said in a statement.

The statement added: "Over the past few days some miscreants have been spreading false information and malicious rumors about Yes Bank on WhatsApp and other social media platforms to create panic and fear in the mind of its depositors. The messages attempt to portray the bank in poor light and are intended to tarnish the image of the Bank in the eyes of its depositors, stakeholders and the general public.

"The bank remains committed to protect the interest of all its valued stakeholders and promises to take strong steps against the fear/panic mongers. The bank appeals to its trusted patrons to be cautious of false information circulating against it and assures that its financial position continues to be absolutely safe and sound."

Earlier this week, the stock of the lender had fallen 30 percent on Monday, its biggest fall in a decade after one of the bank’s promoters sold 10 crore equity shares (3.92 percent of the bank's equity share capital) of the company.

Post the fall, the lender in a BSE filing, clarified that the bank's financial and operating metrics remain intrinsically sound and stable with liquidity position well in excess of regulatory requirements, leading their biggest ever single-day gain, rising nearly 34 percent on Thursday.

The private sector bank also hosted a conference call to soothe investor concerns, where chief executive officer Ravneet Gill announced that the group president Rajat Monga has resigned from the company citing personal reasons.

First Published:Oct 6, 2019 4:11 PM IST