YES Bank Issue: Tollywood Got No Reason To Panic

YES Bank Issue: Tollywood Got No Reason To Panic

Today, both Sensex and Nifty have started on a negative note with banking stocks dropping big time due to the blow given by Reserve Bank of India to 'Yes Bank' other day. As the bank failed to raise funds and suffered loan losses, RBI imposed a month-long moratorium on Yes Bank.

As depositors and account holders of Yes Bank could withdrawal only a maximum Rs 50,000 for the next month, there are gossips everywhere that Tollywood producers are facing the heat. But according to what we hear, it looks there is no such reason to panic.

Most of the producers of the Telugu industry actually took loans from Yes Bank but are not holding their transaction accounts there. In recent times, most of the Telugu biggies are funded by Yes Bank only and if anyone has to panic then it is Yes Bank as they have to recover the loans.

On the other hand, one of the leading producers from Tollywood is said to be holding multiple primary accounts in three banks and one of them is Yes Bank. So we have to see if the producer will face any difficulties in the next 1 month regarding transactions, but surely he's not a poor guy that Yes Bank issue will disturb his financial status.

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