Top Headlines: SBI Shows Interest In Buying 49% Stake In Yes Bank, 2 News Channels Get Ban For Delhi Violence Reporting
The RBI on Friday came out with a "draft reconstruction scheme" under which SBI will bring in Rs 2,500 crore for a 49% stake in the crisisridden private sector bank. Two Malayalam news channels have been taken off air for 48 hours for their coverage of the violence that hit parts of northeast Delhi last week.
-
Thousands of YES Bank customers on Friday scampered to withdraw all or part of the Rs 50,000 a month they are allowed to take out of the beleaguered bank - the RBI clamped the moratorium on Thursday night - even as finance minister Nirmala Sitharaman assured depositors that their money was safe. Lok Sabha Speaker Om Birla will form a committee to review all developments in the Lower House of Parliament from the beginning of the second half of the budget session till Thursday when seven Congress MPs were suspended for the remaining part of the session.
-
A day after the RBI superseded the Rana Kapoor-promoted Yes Bank board and capped cash withdrawals at Rs 50,000 and the SBI said it was "exploring an investment opportunity" in Yes Bank, the RBI on Friday came out with a "draft reconstruction scheme" under which SBI will bring in Rs 2,500 crore for a 49% stake in the crisisridden private sector bank. PM Modi strongly countered critics questioning initiatives such as the CAA, making triple talaq punishable and revocation of JK's special status, saying the opposition stemmed from his determination to change the status quo which was holding the country back.
-
Union finance minister Nirmala Sitharaman confirmed on Friday that the troubled Yes Bank had had loan exposure to "very stressed" companies associated with Anil Ambani and Subhash Chandra, two industrialists considered close to Prime Minister Narendra Modi. Two Malayalam news channels, including the most popular one in Kerala, have been barred by the Centre from telecasting for 48 hours as punishment for their coverage of the Delhi riots.
-
As Yes Bank plunged into crisis, the government on Friday assured its depositors that it was committed to safeguarding their money while the RBI, which superseded the lender's board, said all its employees will continue their services with the same salary for at least a year. At a time when panic over coronavirus is spreading faster than the outbreak, H1N1 infections at two major companies in Bengaluru have caused more anxiety among the IT sector, which is busy fighting misinformation.
