Interest of Yes Bank depositors will be protected: CEA

In a sudden move, the RBI yesterday capped withdrawals at Rs 50,000 per account for a month.

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Prashant Kumar takes charge as Yes Bank administrator

The private sector lender was on Thursday placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board. Kumar taking charge as the Yes Bank administrator is in line with notifications issued by Department of Financial Services and the RBI.

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Do you have an account, loan EMI, Mutual fund, SIP investment in Yes bank? Here is what you should do

If you are a Yes bank customer and are troubled with the thought about what should do in this situation. Here are the details about the restrictions placed on the private lender and what you can do now.

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Yes Bank depositors rush to ATMs but most unable to withdraw cash

Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well. The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender.

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Govt limits withdrawals from Yes Bank at Rs 50,000

The bank cannot pay depositors more than Rs 50,000 during the moratorium period which is till April 3, 2020, as per the notification issued by the Ministry of finance. The Rs 50,000 cap not applicable on any draft/pay order issued by bank, as per the notification. The move comes amid reports of State Bank of India-led consortium getting ready to bail out Yes Bank.

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HSBC files winding up plea against IL&FS firm in Singapore court

​ In the first such case against a group entity of crisis-hit Infrastructure Leasing and Financial Services Ltd (IL&FS) Group, the Hongkong and Shanghai Banking Corporation (HSBC) is seeking to recover its funds parked in bonds worth RMB 1,000 million (over Rs 1,050 crore) maturing in 2021, which were issued by ITNL Offshore Pte Ltd.

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5 simple steps to retirement planning

The younger the generation, the faster they aim to retire from the everyday life of a salaried employee and enjoy the luxuries of a retired man. As opposed t...

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Bank unions announce strike on March 27 to oppose bank mergers

This comes days after bank unions called off a three-day bank strike which was scheduled from March 11. The strike had been called after talks over wage revision failed to initiate with the Indian Banks’ Association (IBA).

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Coronavirus impact: Insurers see marked jump in inquiries for health policies

Queries on new policies have increased up to 40% since fresh cases of the virus were detected in Delhi and Agra. But the impact on pricing for new policies will be negligible as actuarial models generally factor in historical data. However, businesses of several health and travel insurers could be hit if the virus were to significantly impact India, industry players told ET.

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Creditors can choose to stop supplies to companies under IBC: House Panel

Out of claims of around Rs 8.4 lakh crore, the realisable amount is about Rs 3.57 lakh crore, or 43% of the total claims under the code, said the report.

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Now that crypto trade is legal in India, here's what happens next

Investors say peer to peer (P2P) cos will see inflow of capital, similar to what has been happening globally.

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Can health insurance get a new life?

For some strange reason companies that insured your life were not permitted to insure against illness. The regulator has taken a baby step in to permit life insurers cover your health. When it happens, without conflict of interest of dominant shareholders, it would be a new dawn.

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Design policy to cover coronavirus treatment: Irdai to insurance companies

"For the purpose of meeting health insurance requirements of various sections, insurers are advised to design products covering the costs of treatment for coronavirus," the regulator said in a circular. There are 28 confirmed cases of coronavirus infection in India.

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