DNA Verified: Are people closing their accounts in Bank of Baroda's UAE branch due to Adani saga?

A picture is doing rounds on social media which shows several people queuing up outside the Bank of Baroda's (BOB) Al Ain branch in the United Arab Emirates (UAE). It is being said that people are visiting the bank to close their accounts due to the Adani saga.

Many netizens are claiming that Indians were angry with the government-owned bank's decision to lend more money to Adani Group, which suffered a massive loss in its shares after the Hindenburg report.

They claimed that the bank CEO has announced that the bank will still fund Adani companies, despite the recent 'expose'. Check the viral message along with the picture below:

Crowds at Bank of Baroda Al Ain Branch, UAE, are closing their accounts after the CEO announced that the bank will still fund Adani companies, despite the recent fraud expos. This highlights the consequences of electing officials with questionable ethics. BankOfBaroda Adani pic.twitter.com/j4s4tNzxaN

— Rishu~PrakasH (@RishuPrakash19) February 26, 2023

After the picture went viral with the claim, the bank responded to it, saying its Al Ain branch in the UAE will close from March 22, 2023. It added that this is part of a commercial decision taken last year to rationalise the branch network.

To ensure the smooth continuation of services, all accounts are being transferred to the bank's Abu Dhabi branch in the UAE. Customers who wish to close their accounts can do so before March 22.
 
“Bank of Baroda had taken a commercial decision to close its Al Ain branch in UAE a year ago and had received approval from the central bank of UAE for the same,” it said in a statement.

The bank made a plea asking social media users to not ‘believe in misleading and false information being spread on social media.”

pic.twitter.com/FYrs0WuYMl

— Bank of Baroda (@bankofbaroda) February 26, 2023

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