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Tag: Yes Bank

"We shall cure, we shall endure"- RBI Governor Announces Ameliorative Measures In Wake Of COVID-19

New Delhi: While Coronavirus pandemic continues to sweep the world shutting down economies, the Reserve Bank of India on Friday announced a slew of measures to help the country fight the economic blues resulting from the impact of the lockdown. The RBI also cut reverse repo rate by 25 basis points to 3.75%, while keeping […]

Srimandir Funds In Yes Bank Row: Pending Rs 156 Crore FD Withdrawn After Maturity

Bhubaneswar: After the maturity of the pending fixed deposit, Yes Bank on Monday remitted Rs 156 crore to the designated account of Jagannath Temple Corpus Fund at SBI Puri Main Branch. Earlier, the private sector bank had remitted Rs 397 crore to the Srimandir’s corpus fund. “During the bankers’ meeting today, Bank of Baroda has […]

Jagannath Temple funds from Yes Bank to Union Bank
After Yes Bank Crisis, SJTA Says Yes To Union Bank Of India To Park Srimandir Funds

Puri: A day after Yes Bank remitted Rs 389-crore fixed deposit account of Shree Jagannath Temple Administration in Puri, to State Bank of India, the admin today revealed that Srimandir funds will be kept in Union Bank of India (UBI). Informing the same, SJTA administrator (development) Ajay Kumar Jena said that both the Lord Jagannath […]

Lord Jagannath’s Funds To Be Retrieved From Yes Bank Tomorrow: SJTA

Puri: In what could be termed as a much needed respite for the Jagannath devotees across the world, all the fixed deposits of Rs 545 crore of Lord Jagannath deposited in Yes Bank will be retrieved tomorrow from the cash strapped bank after it resumes full banking services from 6 pm today onwards, informed Ajay […]

Yes bank crisis
Depositors' money safe, don't see panic withdrawals: Yes Bank

With normal banking services in Yes Bank to resume at 6 p.m. on Wednesday, the private sector bank’s administrator and new investors assured all deposit holders that their savings in the bank were absolutely safe and customers would have much better experience when they resume usual interaction with the lender. “There is no need to […]

Six Private Banks Join SBI To Rescue Yes Bank

Mumbai: As the government on Saturday notified the reconstruction scheme for Yes Bank, major private banks have come out with investment commitments for the crisis-hit bank. Federal Bank on Saturday announced that it would invest Rs 300 crore in Yes bank by subscribing to its 30 crore shares of Rs 2 each for cash, at […]

Column: Living Off The Lord

By Sandeep Sahu It may sound blasphemous. But the unpalatable truth, shorn of any sugar-coating, is that Lord Jagannath, the presiding deity of Odisha, has become nothing more than a money-spinning venture for our powers that be. The Lord is the biggest brand the state has to offer and our rulers certainly know how to […]

Retrieve Lord Jagannath's Rs 545 crore parked in Yes Bank - opposition corners ruling BJD

Bhubaneswar: As expected, the second phase of the Budget Session of the Odisha Assembly began Wednesday on a stormy note. While Opposition BJP moved adjournment notice over Odisha government’s decision to park funds of Lord Jagannath in crisis-hit Yes Bank, Congress too created ruckus seeking an explanation from the Naveen-led BJD government over the issue. […]

Nirmala Sitharaman
Srimandir Funds in Yes Bank: BJD MPs meet FM Nirmala Sitharaman

Bhubaneswar: A team of BJD MPs led by Prasanna Acharya today met Union Finance Minister Nirmala Sitharaman to discuss about the funds belonging to Puri Srimandir deposited in crisis-hit Yes Bank. During the meeting, the BJD MPs discussed the issue and urged Sitharaman to take steps to resolve it. In response, the Union Minister assured […]

Yes Bank enables inward IMPS, NEFT transactions

New Delhi: Crisis-hit Yes Bank on Tuesday said that it has enabled inward IMPS and NEFT services. The move allows people to send money from other bank accounts to their Yes Bank account through IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) mode. In a tweet, the bank also said that Yes Bank […]

Yes Bank Crisis: Founder Rana Kapoor 'Laundered' Rs 4,300 Crore, Says ED

Mumbai: While seeking the custody of Yes Bank founder Rana Kapoor, the Enforcement Directorate contended that prima facie he was involved in generating Rs 4,300 crore in black money and “laundering” the amount. The money was acquired, concealed and projected by Kapoor and other accused to proclaim them as “untainted”, and the ED sleuths were […]

Odisha Urges FM To Release Jagannath Temple Funds In Yes Bank

Bhubaneswar: Odisha Finance Minister Niranjan Pujari has requested Union Finance Minister Nirmala Sitharaman to instruct the Reserve Bank of India (RBI) to allow release of Rs 545 crore deposited by Shree Jagannath Temple Administration (SJTA) in Yes Bank. “Various funds related to the temple i.e. Foundation Fund, Corpus Fund and Temple Fund are being managed […]

Rana Kapoor, Wife, Daughters Floated Shell Cos To Get Kickbacks

Mumbai: Even as a Mumbai court sent Yes bank founder Rana Kapoor to the Enforcement Directorate custody till March 11, agency officials claimed that the former MD and CEO and his family members allegedly set up over 20 shell companies to receive kickbacks. Kapoor was arrested by the ED officials on Sunday morning after over […]

Yes Bank Founder
ED arrests Yes Bank founder Rana Kapoor under PMLA

Mumbai: The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money laundering charges here in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said. Kapoor’s arrest at […]

SBI To Buy 49% Stake In Yes Bank For Rs 2,450 Cr

New Delhi: The State Bank of India (SBI) on Saturday announced it will pick up a 49 per cent stake in Yes Bank for Rs 2,450 crore and clarified that all the deposits and liabilities of the reconstructed bank will continue in the “same manner”. The crisis-hit Yes Bank, which failed to garner investor support […]

Yes Bank Depositors' Money Safe, RBI Working On Resolution: FM

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor. “RBI Governor has assured that there will be no loss to any Yes Bank depositor,” she said, adding that the steps […]

Yes Bank Crisis Sparks Concerns Over Srimandir Deposits

Puri: The controversy surrounding Srimandir funds being parked with Yes Bank which was gradually subsiding after the Odisha government announced to transfer the deposits to a nationalised bank suddenly erupted out of proportion following a recent press release by the Reserve Bank Of India placing the cash strapped bank under Central Government’s Moratorium. As per […]

RBI to soon come up with scheme for Yes Bank revival

Mumbai: The Reserve Bank of India (RBI) will soon come out with a scheme to revive the capital-starved Yes Bank, RBI Governor Shakti Kanta Das said on Friday. “We took the step (of putting it under moratorium) when we found that Yes Bank efforts were not working. Depositors’ interests will be fully protected,” Das told […]

PhonePe services hit as partner Yes Bank put under moratorium

New Delhi: Payment services provider PhonePe has suffered an outage after the Reserve Bank of India (RBI) on Thursday put Yes bank under moratorium. In a tweet, PhonePe said that its services are temporarily unavailable as it is going through an unscheduled maintenance activity. “We are temporarily unavailable. We are going through an unscheduled maintenance […]

RBI caps withdrawals from Yes Bank; supersedes board

Mumbai: Troubled private sector lender Yes Bank was placed under a “moratorium” on late Thursday, with the RBI capping depositor withdrawals at Rs 50,000 per account for a month and superseding the board with immediate effect. The Reserve Bank of India (RBI) took the decision in consultation with the government to protect depositors’ interest. The […]

Govt Funds In Pvt Banks Row: Are Odisha Officials Flouting Guidelines?

Puri: Going by Odisha government’s own guidelines, shifting of funds from one bank to another without valid reasons & approval will tantamount to financial irregularity and it is no surprise that the opposition parties are up in arms over reported transfer of Lord Jagannath’s funds to a private bank. As per a letter dated 04-10-2019 […]

Sensex Opens Over 100 Points Higher, Yes Bank Jumps 5%

Mumbai: Sensex and Nifty opened higher on Tuesday over firm global cues and slightly better than expected earning results so far. Meanwhile, Yes Bank shares jumped nearly 5 per cent after marquee investor Rakesh Jhunjhunwala picked up nearly 1.3 core shares of the private bank. Sensex opened at 40,445.67, from its Monday’s close of 40,301.96 […]

DBS Denies Reports Of Yes Bank Acquisition

Mumbai: Singapore-based DBS Bank said on Saturday that reports claiming that it will acquire controlling stakes in Yes Bank were false. “The rumours of DBS acquiring a stake in Yes Bank are unfounded and baseless,” a DBS spokesperson told IANS. Meanwhile, Yes Bank also confirmed that the DBS acquisition reports were false. Earlier, Yes bank […]

Sensex Slumps 470 Points, Yes Bank Down 15%

New Delhi: The key Indian equity indices slumped over 1 per cent on Thursday with the BSE Sensex closing 470 points lower, owing to heavy selling in oil, metal and IT stocks amidst mixed global cues. Selling acitivity was witnessed across sectors and the key indices remained in the red throughout the day. Stock-wise, Yes […]

Sensex Drops Over 200 Pts; ICICI Bank, TCS Top Laggards

Mumbai: Domestic equity benchmark BSE Sensex dropped over 200 points in early session on Thursday, dragged by losses in index heavyweights Yes Bank, TCS and Infosys, amid unabated foreign fund outflow and mixed global cues. The 30-share index was trading 206.33 points, or 0.56 per cent, lower at 36,357.55 at 0930 hours, while the broader […]