On March 5, the Reserve Bank of India (RBI) imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor.
The short-to-medium tenure bonds, which are less volatile and could deliver better returns than cash or other liquid mutual funds are other options, say experts
Payment gateways, says the latest guidelines, will be considered as technology providers or outsourcing partners of banks or non-banks, as the case may be.
The Reserve Bank of India's decision to leave interest rates unchanged for now will also impact sentiment
Banks and regulated entities "should also assess the impact on their balance sheet," it said
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.
The IBA's request highlights the roadblocks in resolving stress assets in this sector under the IBC
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18. "We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services," Yes Bank said in a tweet. "You will also be able to access all our digital services & platforms @RBI @FinMinIndia," it said. The government on Saturday notified the reconstruction plan for cash-strapped Yes Bank and said the moratorium will be lifted by 18:00 hrs on March 18, much earlier than the earlier date of April 3. "The order of moratorium on the reconstructed bank issued by the government...shall cease to have effect on the .
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ICICI Bank, HDFC, Axis Bank and Kotak Mahindra Bank too on Friday said they will join the SBI-led consortium and invest in Yes Bank
RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3
The YES Bank reconstruction plan will include an equity investment of at least Rs 11,350 crore from various entities, including multiple private lenders.
"The central bank may have been intervening in these markets in small measures in the past too, but Friday's action was quite loud," said a senior currency dealer requesting anonymity.
'We are conscious of the developments. Together with the RBI, we are monitoring and making sure where necessary, we take steps' Sitharaman said
Amid talk of a review of the flexible inflation targeting framework, it said the revised contracts will introduce growth and financial stability as co-objectives of monetary policy along with price st
Hours after the Cabinet approved restructuring scheme for YES Bank, private lenders ICICI Bank, HDFC, Kotak Mahindra Bank and Axis Bank came to the cash-strapped bank's rescue