Tag: Yes Bank Crisis

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 […]

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 […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]