Business news

SBI keen to acquire 49% stakes in Yes Bank: How much will it cost?

SBI Chairman Rajnish Kumar told reporters at a press conference today that the rescue of Yes Bank was a "must," less than two days after the RBI took control of the capital-starved bank.

Mar 7, 2020

Founder and former managing director of Yes Bank Ltd, Rana Kapoor

Yes Bank founder Rana Kapoor's Mumbai house raided after ED registers money laundering case

Registering a money laundering case under PMLA against Yes Bank Director Rana Kapoor, the Enforcement Directorate raided his Mumbai residence and will soon issue a look out notice against him as well.

Mar 7, 2020

RBI's moratorium on Yes Bank affects operations of its digital partner PhonePe

The digital payment service provider PhonePe dependent on Yes Bank for processing its transactions was impacted by the moratorium issued by RBI, resulting in service shutdown for long hours.

Mar 6, 2020

YES Bank revival scheme: RBI announces reconstruction plan for capital-starved bank, what it means

As per the Scheme of Reconstruction, the Reserve Bank invited suggestions and comments from members of the public, including the banks' shareholders, depositors and creditors on the draft scheme.

Mar 6, 2020

Have an account with Yes Bank? Here's what you can do

Retail depositors with their money with Yes Bank across the country are in a state of panic and have been withdrawing money as much as they can.

Mar 6, 2020

Nirmala Sitharaman reacts on Yes Bank crisis: FM assures depositors, says 'Money is safe'

"I want to assure all the depositors that their money is safe, I am constantly in touch with the Reserve Bank of India (RBI). The steps that are taken are in the interest of the depositors, the bank & the economy," Sitharaman stated.

Mar 6, 2020

SBI chief meets FM Sitharaman over Yes Bank crisis: 'Will take a call after RBI plan is in'

Following the meeting, the SBI chairman assured the depositors that the interest of Yes Bank depositors will be protected and there is no need to panic.

Mar 6, 2020

Yes Bank shares plunge over 70% after RBI caps withdrawals, SBI demands suspension of trading

The State Bank of India, which gave "in-principal" nod to buy a stake in the beleaguered private lender, demanded that trading of Yes Bank's shares should be suspended till the announcement of formal restructuring by the Reserve Bank of India.

Mar 6, 2020

Yes Bank turns 'No' Bank: RBI takes over board, withdrawals capped at ₹ 50,000; SBI approves investment

A notification issued by the finance ministry on March 5 stayed that the "commencement or continuance of all actions and proceedings" against the bank. The withdrawal limits will remain in effect until April 3, 2020.

Mar 6, 2020

Interest rate on PF reduced: How does it affect salaried employees?

Salaried employees will get 0.15 per cent lower returns on provident fund deposits as EPFO slashes interest rates from 8.65 per cent in 2018-19 to 8.50 per cent in FY20.

Mar 6, 2020

OYO clarifies 5,000 job cuts is not due to Coronavirus scare

Oyo issues coronavirus advisory to its employees and announces 5,000 job cuts globally. The job cuts are a part of the company's restructuring announcement in January 2020, and not owing to Covid-19 scare, an OYO spokesperson clarified.

Mar 5, 2020

Cryptocurrency ban lifted by RBI in India: What the SC ruling means?

The SC lifted the cryptocurrency ban imposed by RBI in early 2018, which prevented financial institutions in India from providing banking services to cryptocurrency companies. Industry experts hail SC's bold move, but advise users on exercising caution trading in crypto and companies to improve AML policies and ensure data privacy.

Mar 5, 2020

Coronavirus scare: 5,000 Twitter employees encouraged to work from home amid Covid-19 outbreak

The social media company made it mandatory for all employees in Hong Kong, Japan and South Korea to work from home to curb the spread of coronavirus, while employees from other regions can choose to come to work from the office as needed.

Mar 4, 2020

Schemes by Ministry of Finance for Women Empowerment in India

Women's Day 2020: Women empowerment schemes in India since 2014

Besides allocation of Rs. 16712.72 crore under the Stand-Up India scheme for women empowerment, the Ministry of Finance has launched various schemes with special provisions to benefit women and help them accentuate their dreams in the last six years, since 2014.

Mar 3, 2020

Huge volatility on Dalal Street as coronavirus reaches India

Last day at the Dalal street witnessed huge volatility in benchmark indices as cases of Coronavirus confirmed across three cities in India.

Mar 3, 2020

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Business news

SBI keen to acquire 49% stakes in Yes Bank: How much will it cost?

Yes Bank founder Rana Kapoor's Mumbai house raided after ED registers money laundering case

RBI's moratorium on Yes Bank affects operations of its digital partner PhonePe

YES Bank revival scheme: RBI announces reconstruction plan for capital-starved bank, what it means

Have an account with Yes Bank? Here's what you can do

Nirmala Sitharaman reacts on Yes Bank crisis: FM assures depositors, says 'Money is safe'

SBI chief meets FM Sitharaman over Yes Bank crisis: 'Will take a call after RBI plan is in'

Yes Bank shares plunge over 70% after RBI caps withdrawals, SBI demands suspension of trading

Yes Bank turns 'No' Bank: RBI takes over board, withdrawals capped at ₹ 50,000; SBI approves investment

Interest rate on PF reduced: How does it affect salaried employees?

OYO clarifies 5,000 job cuts is not due to Coronavirus scare

Cryptocurrency ban lifted by RBI in India: What the SC ruling means?

Coronavirus scare: 5,000 Twitter employees encouraged to work from home amid Covid-19 outbreak

Women's Day 2020: Women empowerment schemes in India since 2014

Huge volatility on Dalal Street as coronavirus reaches India

Plasma is largely useless; barely helps COVID patients [Read Lancet study]

Bigg Boss Kannada Contestant KP Aravind on his Relationship with Divya Uruduga: It is Looking Positive for Now

UFO plunged into ocean in front of US Navy officials, netizens suspect marine alien base