Claim: A photo of customers queuing up at a Bank of Baroda branch in the UAE to close their accounts in response to the bank's decision to lend to the Adani group despite the Hindenburg report controversy.
Fact-check: Closure of accounts at Bank of Baroda's UAE branch is unrelated to its CEO's statement on Adani - FACTLY
Verdict: on 20 january 2023, bank of baroda announced that it would be closing its al ain branch in the uae for commercial reasons. according to a statement from the bank's representative, the decision to close the branch was made a year prior and was subsequently approved by the central bank of the uae. the accounts held at the al ain branch will be transferred to the abu dhabi branch, and customers who wish to close their accounts may do so without penalty before 22 march 2023. the bank also advised customers to disregard any false or misleading information that may be circulating on social media regarding the closure. it is worth noting that the hindenburg report on adani was released on 24 january 2023, which is after the bank of baroda's decision to close its al ain branch. hence the claim made in the post is misleading.
Organisation: FACTLY
Author: Harshavardhan Konda
Date published: 2023-02-27T13:31:06