Page 612 - Finance News
IndusInd Bank says it is financially strong amid speculation around stock
On Wednesday, the bank's stock on the BSE fell by Rs. 61.10 or 9.20 per cent to close at Rs. 603.05 from its previous close
 "IndusInd Bank says it is financially strong amid speculation around stock")
ICICI Bank gets 7.97% stake in YES Bank with Rs 1,000-cr capital infusion
According to the reconstruction scheme, 75 per cent of the total investment by the bank would be locked in for three years, ICICI Bank said
 "ICICI Bank gets 7.97% stake in YES Bank with Rs 1,000-cr capital infusion")
DBS Bank, Bharti AXA join hands for insurance plan covering Covid-19
The plan would cover all medical conditions, including Covid-19, and up to 10 days of hospitalisation, with a cover of Rs 5,000 per day, for a 30-day period
 "DBS Bank, Bharti AXA join hands for insurance plan covering Covid-19")
Coronavirus impact: IBA to seek relief package for financial institutions
One of the possibilities that banks would explore is to split duties and responsibilities, apart from working in different shifts and geographies
 "Coronavirus impact: IBA to seek relief package for financial institutions")
HSBC appoints interim boss Noel Quinn as chief executive officer
Unicredit boss Jean Pierre Mustier and incoming UBS Group Ralph Hamers were among those reported to have caught Tucker's eye
 "HSBC appoints interim boss Noel Quinn as chief executive officer")
ED files fresh money laundering cases against YES Bank's Rana Kapoor, wife
Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank
 "ED files fresh money laundering cases against YES Bank's Rana Kapoor, wife")
SBI to up YES Bank stake to 49%, will not sell share before 3 yrs: Chairman
Stating that the investors will not regret coming on board a new Yes Bank, he pointed to the massive rise in the share price of the scrips
 "SBI to up YES Bank stake to 49%, will not sell share before 3 yrs: Chairman")
The mystery behind surreal gain in crisis-hit YES Bank's stock price
Rs 10K-cr infusion, lock-in and hurried short-covering led to 2.3x surge in the stock
 "The mystery behind surreal gain in crisis-hit YES Bank's stock price")
Share exchange ratio for merger remains unchanged, says Indian Bank
The Board of Directors on March 5 approved fair equity share exchange ratio at 115 equity shares of Rs 10 each of Indian Bank for every 1000 shares of Rs 10 each of Allahabad Bank
 "Share exchange ratio for merger remains unchanged, says Indian Bank")
YES Bank ATMs full of cash, normal operations from tomorrow: Prashant Kumar
"Our customers will be able to enjoy all services available before the moratorium," said Prashant Kumar at a press conference in Mumbai
 "YES Bank ATMs full of cash, normal operations from tomorrow: Prashant Kumar")
We are financially strong, well-capitalised and profitable, says RBL Bank
The lender said market rumours around financial health and stability of the bank are totally misplaced, motivated and not based on facts.
 "We are financially strong, well-capitalised and profitable, says RBL Bank")
Don't rush to withdraw deposits from YES Bank: RBI governor Shaktikanta Das
Das said the central bank had enough instruments for use if needed - they would be deployed at a time that would maximise impact
 "Don't rush to withdraw deposits from YES Bank: RBI governor Shaktikanta Das")
RBI tells banks to put in place biz continuity plans to prevent disruption
Banks and regulated entities "should also assess the impact on their balance sheet," it said
 "RBI tells banks to put in place biz continuity plans to prevent disruption")
YES Bank case: ED summons Anil Ambani, Subhash Chandra and Naresh Goyal
The agency also calls Subhash Chandra, Naresh Goyal, Kapil Wadhawan, and Peter Kerkar in money laundering probe
 "YES Bank case: ED summons Anil Ambani, Subhash Chandra and Naresh Goyal")
YES Bank crisis: Rana Kapoor's custody extended by four days till March 20
The sessions court in Mumbai on Monday extended the custody of Rana Kapoor, former managing director and chief executive officer of crisis-hit YES Bank, till March 20
 "YES Bank crisis: Rana Kapoor's custody extended by four days till March 20")
Moody's upgrades YES Bank's ratings; outlook changed to positive
The rating action concludes the review with direction uncertain that was initiated on Yes Bank's ratings on 06 March 2020. Ailing private sector bank was placed under moratorium on March 5, 2020.
 "Moody's upgrades YES Bank's ratings; outlook changed to positive")
NSE decides to pre-pone YES Bank's exclusion from indices to this Thursday
Public shareholders have Rs 8,673 cr exposure to bank
Coronavirus scare: SBI Cards drops 10% on debut, HNIs lose Rs 200 per share
The weak trading debut contrasted the stellar demand seen during SBI Cards' Rs 10,300-crore IPO earlier this month
 "Coronavirus scare: SBI Cards drops 10% on debut, HNIs lose Rs 200 per share")
New valuation gap between top tier pvt sector banks and their small peers
BL Bank, for example, is down 47.2 per cent during the period. Its m-cap is down from ~15,700 crore on February 20 to ~8,283 crore at the close of trading on March 16
 "New valuation gap between top tier pvt sector banks and their small peers")
Investments in YES Bank aimed at providing stability, says SBI chief
SBI Card, the second largest largest credit card issuer in the country, got listed at 13 per cent discount at Rs 658 on the BSE, against the issue price of Rs 755.
 "Investments in YES Bank aimed at providing stability, says SBI chief")