Finance

Good news for depositors as Moratorium on Yes Bank to be removed on March 18

On March 5, the Reserve Bank of India superseded the board of Yes Bank after it was unable to raise fresh capital.

Mar 14, 2020

SBI, ICICI Bank, HDFC Bank, LIC, others to invest Rs 11,700 crore to revive Yes Bank

Public-sector undertaking State Bank of India will be joined by seven other private lenders namely HDFC Bank, ICICI Bank, Kotak Bank, Axis Bank, Damani, Jhunjhunwala, and Azim Premji Trust to pick up stake and support revival of Yes Bank. LIC has also been roped in by the RBI to revive the private-sector lender

Mar 13, 2020

Here's why SBI cut interest rate on its saving banks account to 3%, issued AMB waiver

State Bank of India (SBI) has cut the interest rates on its savings bank account to 3 per cent and has also done away with the need for customers to maintain an average quarterly balance.

Mar 13, 2020

Deposited money is safe: RBI asks state government to stop withdrawals from private banks

The trigger of such heavy withdrawal is believed to be the Yes Bank crisis that was superseded by the RBI placed restrictions on withdrawals.

Mar 13, 2020

Coronavirus scares: Contingency planning on top of the agenda for global financial firms

Large financial institutions and corporates are ramping up their contingency planning efforts to combat the spread of coronavirus amongst its staffers, which include telling them to self-quarantine for 14 days if exposed to someone suffering from the virus, deep cleaning of offices and splitting operations such that some staff can work-from-home in affected regions.

Mar 12, 2020

SBI removes minimum balance charges for all saving accounts

SBI had already announced slashed MCLR or marginal cost of fund-based lending rate by up to 15 basis points that would come into effect from March 10.

Mar 12, 2020

Yes Bank enables inward IMPS, NEFT transactions; customers can now pay dues

In a tweet, Yes Bank said the customers can pay their credit card dues and loan from other bank accounts using the two wire transfer services.

Mar 10, 2020

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

Aftermath of Yes Bank crisis: 40,000 customers abroad panic, CBI files FIR against Kapoor and his family

Post moratorium issued by RBI on Yes Bank, and Rana Kapoor's residence being raided, CBI has now registered FIR against Yes Bank founder Rana Kapoor, his wife and three daughters accusing them of bribery, money laundering and cheating under the PMLA and Prevention of Corruption act.

Mar 10, 2020

Yes Bank crisis: Founder Rana Kapoor arrested by ED for money laundering

The ED had Friday registered a money laundering case against Kapoor and raided his Samudra Mahal residence at Worli, Mumbai, in connection with the large sum of loans granted to Dewan Housing Finance Ltd (DHFL).

Mar 8, 2020

Exclusive: PhonePe is back with ICICI as new UPI partner; nothing changes for 20cr users

After RBI's moratorium on Yes Bank, PhonePe now has a new UPI partner, ICICI Bank.

Mar 7, 2020

Yes Bank crisis explained: What led to the downfall of India's fifth largest private lender?

An RBI moratorium was the last resort to ensure Yes Bank lives through its crisis of deteriorating financial health and a huge pile of bad credits, while State Bank of India stepped in to save the bank by suggesting schemes of reconstruction or amalgamation.

Mar 7, 2020

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Finance

Good news for depositors as Moratorium on Yes Bank to be removed on March 18

SBI, ICICI Bank, HDFC Bank, LIC, others to invest Rs 11,700 crore to revive Yes Bank

Here's why SBI cut interest rate on its saving banks account to 3%, issued AMB waiver

Deposited money is safe: RBI asks state government to stop withdrawals from private banks

Coronavirus scares: Contingency planning on top of the agenda for global financial firms

SBI removes minimum balance charges for all saving accounts

Yes Bank enables inward IMPS, NEFT transactions; customers can now pay dues

Aftermath of Yes Bank crisis: 40,000 customers abroad panic, CBI files FIR against Kapoor and his family

Yes Bank crisis: Founder Rana Kapoor arrested by ED for money laundering

Exclusive: PhonePe is back with ICICI as new UPI partner; nothing changes for 20cr users

Yes Bank crisis explained: What led to the downfall of India's fifth largest private lender?

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

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

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]