Page 617 - Finance News
Customers rush to ATMs in Mumbai after RBI caps Yes Bank withdrawal limit
The customers claimed that the bank had not given any prior information about it while many rued that the ATMs have run out of cash.
 "Customers rush to ATMs in Mumbai after RBI caps Yes Bank withdrawal limit")
RBI supersedes board of troubled YES Bank, sets Rs 50,000 withdrawal limit
Lender placed under moratorium; withdrawal capped at Rs 50,000; govt, central bank flag governance issues
 "RBI supersedes board of troubled YES Bank, sets Rs 50,000 withdrawal limit")
Private lenders faced tough times due to poor corporate governance, NPAs
Way back in 2004, the crisis-ridden Global Trust Bank was merged with the Oriental Bank of Commerce by the Reserve Bank of India
 "Private lenders faced tough times due to poor corporate governance, NPAs")
All may not be lost for YES Bank but insiders say its recovery to be slow
It will depend on the acquiring bank or financial institution's capacity to hold the assets till the market improves and sell them later to recover sizeable chunk of the loans
RBI Deputy Governor Vishwanathan to quit by Mar 31 over health issues
While the Reserve Bank has accepted his request to be relieved by March 31, the same has to be accepted by the Cabinet as well, which is likely to happen any day given his health condition
 "RBI Deputy Governor Vishwanathan to quit by Mar 31 over health issues")
Bombay HC dismisses Chanda Kochhar's writ petition against ICICI Bank
Court accepts the bank's stance that Kochhar's petition has no legal basis as the lender is a private banking company and the petition seeks to contest purely private contractual terms
 "Bombay HC dismisses Chanda Kochhar's writ petition against ICICI Bank")
Public sector banks announce share-swap ratios ahead of April 1 merger
Allahabad Bank-Indian Bank deal to be determined
 "Public sector banks announce share-swap ratios ahead of April 1 merger")
SBI board gives 'in-principle' approval for investment in YES Bank
The announcement came hours after Yes Bank was placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board
 "SBI board gives 'in-principle' approval for investment in YES Bank")
Govt puts Yes Bank under moratorium; withdrawals limited to Rs 50,000
This has been done to quickly restore depositors' confidence in the bank. The scheme for reconstruction and amalgamation of bank is also being put in place, RBI said in the statement.
 "Govt puts Yes Bank under moratorium; withdrawals limited to Rs 50,000")
Yes Bank depositors rush to ATMs but most unable to withdraw cash
In the residential area of suburban Chembur, one ATM was dispensing cash but had a long queue of anxious depositors
 "Yes Bank depositors rush to ATMs but most unable to withdraw cash")
PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank
The government had in August last year announced plans to merge 10 public sector banks (PSBs) into four
 "PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank")
Withdrawal limit to 'govt bailout': 10 points about Yes Bank's troubles
Yes Bank has been placed under moratorium and the government is reportedly planning a rescue plan involving a capital injection by a consortium led by State Bank of India.
 "Withdrawal limit to 'govt bailout': 10 points about Yes Bank's troubles")
SBI Cards IPO subscribed 26 times despite tough market conditions
The 100-million share offering generated close to 2.7 billion bids
 "SBI Cards IPO subscribed 26 times despite tough market conditions")
Here's the full text of RBI's statement on Yes Bank moratorium
The central bank has appointed former SBI CFO Prashant Kumar as the Yes bank's administrator
 "Here's the full text of RBI's statement on Yes Bank moratorium")
Yes Bank put under moratorium, withdrawals capped at Rs 50,000
The RBI removed Yes Bank's board and appointed Prashant Kumar, a former chief financial officer of the State Bank of India (SBI), as administrator.
 "Yes Bank put under moratorium, withdrawals capped at Rs 50,000")
Access to funding improves for NBFCs but not yet at pre-IL&FS level
Debt capital markets continue to shy away from the shadow banking sector
 "Access to funding improves for NBFCs but not yet at pre-IL&FS level")
RBI imposes moratorium on Yes Bank, caps withdrawals at Rs 50,000
Earlier in the day, sources said SBI along with some other financial institutions would bail out capital-starved Yes Bank, with the government giving the go-ahead.
Taxpayers will be 'big casualty' if govt bails out Yes Bank: Macquarie
Over the past few months, YES Bank has struggled to raise capital - nearly $2 billion - it desperately needs to stay above regulatory requirements
 "Taxpayers will be 'big casualty' if govt bails out Yes Bank: Macquarie")
Non-bank lenders defying caution, growing riskier unsecured loans: Report
The going has been very difficult for the NBFC segment since the crisis at infra-focused lender IL&FS in September 2018, with liquidity getting scarce and the economy slowing down
 "Non-bank lenders defying caution, growing riskier unsecured loans: Report")
HSBC files winding up plea in Singapore court against IL&FS subsidiary
As per a notice published in Singapore's government gazette on March 3, HSBC filed its application for winding up of ITNL Offshore Pte Ltd in Singapore High Court on February 27
 "HSBC files winding up plea in Singapore court against IL&FS subsidiary")