Tag: Yes Bank Crisis

ED raids Yes Bank founder Rana Kapoor's house in Mumbai

Mumbai: The Enforcement Directorate on Friday raided the Mumbai residence of Yes Bank founder Rana Kapoor in connection with a money-laundering probe against him and others, officials said. They said the raid is being carried out at his Samudra Mahal residence in Worli. Kapoor is being questioned at his home by the ED team, the […]

  • Monday, 19 April 2021
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 […]

  • Monday, 19 April 2021
Srimandir Funds In Yes Bank: Union Minister Alleges Kickbacks Behind Move

Bhubaneswar: There seems to be no end to political blame game over parking of Rs 545 crore belonging to Lord Jagannath in crisis-hit Yes Bank as Union Minister Pratap Sarangi on Monday alleged that the motive behind keeping the funds in the private bank was to earn commissions. “It is financial misconduct and also a […]

  • Monday, 19 April 2021
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 […]

  • Monday, 19 April 2021
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 […]

  • Sunday, 18 April 2021
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. […]

  • Sunday, 18 April 2021
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 […]

  • Sunday, 18 April 2021
Odisha Govt Washes Off Hands Over Issue Of Srimandir Funds In Yes Bank

Bhubaneswar: The State government today seemed to have washed its hands off over the issue of parking Puri Srimandir funds in crisis-hit Yes Bank by saying that it was the temple administration which had deposited the amount as it the sole authority for management of affairs of the shrine. Replying to a query over the […]

  • Sunday, 18 April 2021
Investment In Yes Bank: SBI To Infuse Rs 7250 Crore

Mumbai: The country’s largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank. “The executive committee of the central board (ECCB) at its meeting held on March 11 accorded approval for purchase of 725 crore shares in Yes Bank at […]

  • Sunday, 18 April 2021
RBI Allays Fears About Deposits In Pvt Banks Amid Row Over Srimandir Funds In Yes Bank

Bhubaneswar: At a time when opposition parties have turned the heat on the Odisha government for parking Sri Jagannath Temple funds in Yes Bank, the Reserve Bank of India (RBI) on Thursday categorically stated that all depositors’ money is entirely safe in private banks. The clarification comes in the wake of media reports that some […]

  • Sunday, 18 April 2021
Column: Playing Around With The Lord’s Money

By Sandeep Sahu The corona virus scare could not have come at a more convenient time for the ruling dispensation. It provided the government the excuse it was looking for to adjourn the ongoing budget session of the Assembly just when things were getting too hot to handle in the House over the suspicious deal […]

  • Sunday, 18 April 2021
Relief For Yes Bank Depositors; RBI Assures To Add Liquidity If Required

Mumbai: Describing the reconstruction scheme for Yes Bank as credible and sustainable, Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday sought to assure the private bank’s depositors that their hard-earned money is safe. He also said that the central bank will infuse additional liquidity into private lender, if required, and urged depositors that […]

  • Sunday, 18 April 2021
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 […]

  • Sunday, 18 April 2021
Yes Bank Returns Puri Jagannath Temple funds
Yes Bank Returns Rs 397 Crore Shree Jagannath Funds, Next Refund On March 30

Bhubaneswar: Hours after Yes Bank resumed its operations, the private sector lender remitted Rs 397 crore to designated SBI account of Jagannath Temple Corpus Fund at Puri Main Branch. Earlier, restrictions on withdrawal of funds from Yes Bank had kicked off a political storm in Odisha. Informing about the development in a letter to Krishan […]

  • Sunday, 18 April 2021
RBI Opens Rs 60,000-Cr Emergency Credit Line For Yes Bank

New Delhi: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank resumes normal operations from Thursday. The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also […]

  • Sunday, 18 April 2021
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 […]

  • Sunday, 18 April 2021