Yes Bank crisis: Jagannath Temple's Rs 592 crore deposit faces uncertain future
Business | March 06, 2020 20:20 ISTThe famed Jagannath Temple in Puri has a deposit of over Rs 592 crore in crisis-ridden Yes Bank
The famed Jagannath Temple in Puri has a deposit of over Rs 592 crore in crisis-ridden Yes Bank
Yes Bank Crisis: Yes Bank on Friday evening sought to calm everyone down by issuing a statement and said that the moratorium imposed by Reserve Bank of India was "temporary" and all efforts are being made to revive the bank.
YES bank crisis: A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank and stay invested for at least three years, as per the RBI's draft scheme of reconstruction for the crisis-hit lender announced on Friday.
Paytm Payments Bank took a dig on its rival PhonePe in the wake of obstructions it faced due to using cash-strapped Yes Bank platform for transactions.
Yes Bank Crisis: Distress calls and long queues of customers were witnessed at various branches of Yes Bank after the Reserve Bank of India put a withdrawal limit of Rs 50,000 on Thursday
In what can be a relief to thousands of Yes Bank employees, Finance Minister Nirmala Sitharaman said on Friday that Yes Bank employees will continue to get salary. Yes Bank is currently in crisis and Reserve Bank of India has set a maximum withdrawal cap of Rs 50,000 for depositors.
Yes Bank Crisis: Soon after the RBI placed the Yes Bank under a moratorium and restricted withdrawal limit to Rs. 50,000 per account until April 3, 2020, Reserve Bank of India’s Governor Shaktikanta Das today tried to boost the sentiments of the existing bank’s customers by saying that the central bank will protect all depositors' money.
The Reserve Bank of India Friday rolled out "scheme of reconstruction", a revival plan for the crisis-ridden Yes Bank, which was placed on moratorium with withdrawal limit capped at Rs 50,000. The central bank today said the State Bank of India (SBI) has expressed willingness to invest in crisis-ridden Yes Bank.
Finance Minister Nirmala Sitharaman lashed out at "government in power from 2004 to 2014" and appeared to hold it responsible for the crisis in Indian banking system. United Progressive Alliance (UPA) under former Prime Minister Manmohan Singh was in power from 2004 to 2014.
Nippon India Mutual Fund on Friday said it has marked down the value of its investments to zero in bonds issued by troubled private sector lender Yes Bank.
Market benchmark Sensex plunged 894 points on Friday following intensifying rout in global stocks on coronavirus concerns, while the regulatory curbs on Yes Bank further soured sentiment.
Against the backdrop of the Yes Bank crisis, the Maharashtra government has decided to only bank with public sector banks, officials said here on Friday
Planning for his son's higher education, Peddi Srinivas deposited money in Yes Bank but with the bank in crisis, he is worried over the impact it may have on his plans.
With withdrawals from Yes Bank capped at Rs 50,000 per depositor, tension among customers of the crisis-hit bank in Delhi-NCR was evident. Though there were no long queues outside bank premises, but rush inside bank branches was "huge".
Senior Congress leader P Chidambaram hit out at the government on Friday, saying its "ability to govern and regulate financial institutions stands exposed".
A sharp plunge in the equity market made investors poorer by Rs 3.85 lakh crore on Friday as the BSE barometer Sensex plummeted over 1,400 points led by massive selloff in banking, metal and energy stocks.
Are you doing online transactions? Chances are that services on some digital platforms might be hit due to the Yes Bank crisis. Here are the digital platforms that are affected, or may take a hit due to the ongoing Yes Bank crisis.
As Yes Bank depositors rush to ATMs on Friday to withdraw cash a day after it was put under a moratorium, security at its branches, ATMs, headquarters across Mumbai was tightened to avert any untoward incident. The RBI has capped a withdrawal limit of Rs 50,000 as Yes Bank's faces capital crunch.
After Reserve Bank of India placed Yes Bank under a month-long moratorium, Chief Economic Advisor of India, Krishnamurthy Subramanian, said that depositors' funds will remain safe, and they need not to panic.
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
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