Top 10 business headlines: Bad day for markets as crude plays spoilsport

From no level playing field for women at work to YES Bank rescue details, Business Standard brings you the top headlines of the day

YES Bank to transform into a retail bank

Prashant Kumar, the new man in charge of YES Bank, has chalked out the strategy for the beleaguered bank, which includes selling down part of its vast portfolio of corporate loans, and focusing on retail banking — the mainstay of its highly profitable rivals. Read more

Markets see worst rout in 5 years

The crash in oil prices on Monday sent shockwaves through global equity markets, which were already reeling from pressure because of the spread of coronavirus. Read more

Crude down 30% as Saudi, Russia fail to reach a deal

A standoff between Saudi Arabia and Russia over crude oil supply cuts saw international prices record one of their worst single-day dip in about three decades. Though this could help the Indian economy, which is facing a slowdown, to keep the subsidy bill under control, the fall could accentuate global distress. Read more

Women still don't have level-playing field at work

The findings of what is being called the first-ever pan-IIM survey titled Women in the Workplace pose some questions to India Inc’s claims of reducing the gender gap over the years. Read more

Domestic flight occupancy drops 15%

Fresh bookings and occupancy in domestic flights have dropped by almost 15 per cent in the last few days as customers defer or cancel trips over fears of coronavirus. Read more

BPCL stake sale may get delayed

A steep correction in stock markets, as well as in crude oil prices, may not be good news for the government’s plan to divest Bharat Petroleum Corporation (BPCL).  Read more

Oil crash: Centre unlikely to hike excise duty

The Centre has ruled out an increase in excise duties on petroleum, and believes that softening global crude prices would dampen inflation, which would induce the Reserve Bank to cut policy rates. Read more

Troubled borrowers may face credit crunch

A wide swathe of YES Bank’s borrowers may soon face a serious credit crunch. A reappraisal of their credit worthiness is on the cards, and with not many safe ports of call, it will be tough sailing ahead. Read more

YES Bank rescue involves Rs 6,000 cr investment by SBI

State Bank of India (SBI) will submit its rescue plan for Yes Bank within a week to the Reserve Bank of India (RBI) that will likely entail a maximum investment of Rs 6,000 crore for a 26 per cent stake, the Economic Times reported

YES Bank’s retail FDs have nearly doubled over two years

A look at the trend in deposit flow into YES bank over the past two years suggests that retail customers have been increasingly parking money in the bank, according to the Hindu Business Line