Yes Bank founder Rana Kapoor’s ED custody extended till Mar 16
Mumbai, Mar 11 : A special court on Wednesday extended till March 16 the Enforcement Directorate (ED) custody of Yes Bank founder Rana Kapoor, arrested on money laundering charges. During the hearing, the ED told the special Prevention of Money Laundering Act (PMLA) court that Kapoor had sanctioned loans worth Rs 30,000 crore to different […]
Rupee recovers 56 paise, settles at 73.61 against US dollar
Mumbai, Mar 11 : The rupee recovered 56 paise to settle at 73.61 (provisional) against the US dollar on Wednesday amid positive domestic equities and weakening of the American dollar in the overseas market. The rupee on March 9 had plunged to a 17-month low of 74.17 against the US dollar amid mounting fears of […]
SBI cuts interest rate on savings accounts to 3 pc
Removes minimum balance requirement
New Delhi, Mar 11 : The country’s largest lender SBI on Wednesday rationalised interest rate on all savings bank (SB) accounts to a flat 3 per cent, a move affecting 44.51 crore account holders. The bank also waived the requirement for maintaining minimum balance in SB accounts. Keeping in mind the ‘Customers First’ approach, the […]
Coronavirus outbreak could cost global economy up to USD 2 trillion: UNCTAD
United Nations, Mar 10 : The coronavirus outbreak could cost the global economy up to USD 2 trillion this year, the UN’s trade and development agency said, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5 per cent. “We envisage a slowdown in […]
Saudi Aramco says to hike output, escalating price war
Riyadh, Mar 10 : Energy titan Saudi Aramco said Tuesday it will boost crude oil supplies to 12.3 million barrels per day in April, flooding markets as it escalates a price war with Russia. Riyadh had already slashed its price for April delivery after Russia refused its proposal that producer alliance OPEC+ orchestrate a co-ordinated […]
Trump discussed energy markets with Saudi crown prince: W House
Washington, Mar 10 : US President Donald Trump discussed “global energy markets” with Saudi Crown Prince Mohammed Bin Salman, the White House said Tuesday, after a deep plunge in oil prices shook markets worldwide. The White House statement said Trump spoke with the crown prince on Monday but gave few details on the substance of […]
Customers sensed all was not well with Yes Bank, withdrew Rs 18,110 cr deposits during Mar-Sep 2019
New Delhi, Mar 9 : Deposits at Yes Bank witnessed a steady decline during the March-September period last year as customers withdrew over Rs 18,100 crore, in a reflection of falling confidence in the bank. Yes Bank, which has been put under a moratorium by the Reserve Bank till April 3, during which customers are […]
CBI issues look out circular against 7 accused in Yes Bank scam
New Delhi, Mar 9 : The CBI on Monday issued a look out circular against seven accused in the Yes Bank scam, including its co-founder Rana Kapoor and his family members, to prevent them from leaving the country, officials said. The agency has booked Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha, besides […]
Hopeful of moratorium being lifted this week: Yes Bank administrator
Mumbai, Mar 9 : Beleaguered private sector lender Yes Bank is hopeful of the moratorium being lifted by this Saturday, its RBI-appointed administrator Prashant Kumar said on Monday. He told PTI that the final approval from the Reserve Bank to the SBI-led resolution plan would result in Yes Bank coming out of the moratorium. He […]
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 […]
