Top headlines: RBI bars YES Bank on coupon payment, RIL mcap, and more

Business Standard brings to you a snapshot of the top events of the day

1. RBI bars YES Bank from coupon payment on Upper Tier II bonds

The Reserve Bank of India has restrained private sector lender YES Bank from paying interest (coupon) on the Tier II bonds as its capital adequacy ratio was below regulatory requirements. The private lender had approached banking sector regulator RBI seeking approval to pay interest due as on June 29, 2020 for Upper Tier II Bonds. Read more...

2. RIL 57th most valuable firm globally by market-cap; Saudi Aramco tops chart

Reliance Industries (RIL) became the first Indian company to be valued at $150 billion on Monday with the stock hitting a fresh all-time high of Rs 1,804 on the BSE. Over the past three months, the RIL stock has doubled – from a low of Rs 883.85 hit on March 23 as compared to a 35 per cent rise in the S&P BSE Sensex. Read on...

3. ICICI Bank sells 1.5% stake in ICICI Prudential for Rs 840 crore

Private sector lender ICICI Bank on Monday sold 1.5 per cent stake in its life insurance arm ICICI Prudential for 840 crore. This was done to strengthen the bank’s balance sheet in light of the pandemic that is expected to worsen the bad loans problem of the banks. Read on... 

4. Petrol nears Rs 80 mark, diesel at new high after 16th price hike in a row

Petrol price on Monday was hiked by 33 paise per litre and diesel by 58 paise to take retail rates to record high as the oil companies increased prices for the 16th day in a row. In 16 days, the petrol price has been hiked by Rs 8.3 per litre and diesel by Rs 9.46 - a record increase in rates of the fuel in any fortnight since pricing was deregulated in April 2002. Read on...

5. India, China hold corps commanders level talks amid massive deployment

Over thousands of Indian Army men stand a few meters away from Line of Actual Control against Chinese People's Liberation Army even as corps commanders of two countries' military meet at Moldo on Monday to resolve the border issue and ease tension in Eastern Ladakh. Read more...