Monday, March 16, 2020, 10:50 AM
Assam Minister Himanta Biswa Sarma has thanked Finance Minister Nirmala Sitharaman for "championing the cause of deprived workers" after an audio clip of her lashing out at SBI chairman Rajnish Kumar went viral, triggering a major controversy. "Don't tell me you are the largest bank. You are a heartless bank. SLBCs (State Level Bankers' Committees) don't function like this," she is heard as saying.
Wednesday, March 11, 2020, 11:56 AM
Shares of YES Bank zoomed 30 per cent in Wednesday's early trade after administrator Prashant Kumar on Monday said he is hopeful of the moratorium on the private sector lender being lifted by Saturday. Shares of YES Bank jumped 77.47 per cent to an intraday high of Rs 28.75 on Wednesday against its close of Rs 16.20 on March 6.
Monday, March 9, 2020, 4:15 PM
S&P Global Ratings said quick resolution of YES Bank insolvency will keep India's banking sector contagion at bay, but as credit markets tighten there could be a possibility of wider economic pain in the country. The Reserve Bank last week imposed a moratorium on the capital-starved YES Bank, capping withdrawals at Rs 50,000/account and superseding the board of the private-sector-lender with immediate effect.
Saturday, March 7, 2020, 5:27 PM
State-owned insurer LIC may consider joining RBI efforts to rescue the cash strapped Yes-Bank. This can help to increase capital-infusion under the draft-reconstruction scheme to rescue Yes-Bank designed by the RBI, which was made public on Friday. News-agency IANS quoted official sources as saying that RBI, SBI and finance-ministry-officials were in touch with the insurer to see its interest to participate in the scheme.
Saturday, March 7, 2020, 1:12 PM
SBI on Saturday said it has time till Monday to respond back to the Reserve Bank of India(RBI) on the draft scheme for rescue of Yes Bank, India's fifth private lender. SBI Chairman Rajnish Kumar told a press conference in Mumbai that the bank's legal team has been doing due diligence on draft scheme proposed by RBI for bringing the bank back to health.
Friday, March 6, 2020, 9:35 AM
The board of India' top lender, State Bank of India, agreed on Thursday to conduct a viability assessment into buying a stake in troubled private sector Yes Bank, a source said. Yes Bank shares surged more than 25 per cent after reports emerged that a group led by SBI will inject capital into the bank.
Friday, March 6, 2020, 9:31 AM
The $1.4-billion public issue of SBI Cards and Payment Services Ltd, India's largest IPO in over two-years, weathered the coronavirus-led global market turmoil and was subscribed 22.45-times by the final-day of bidding. The credit-card arm of the country's top public lender, State Bank of India, drew bids for 2.25-billion shares on Thursday, compared to the 100.3 million shares on offer, stock exchange data showed.
Friday, March 6, 2020, 9:30 AM
The board of India' top-lender, SBI , agreed to conduct a viability assessment into buying a stake in troubled private sector Yes Bank Ltd., a source said. Yes Bank shares surged more than 25% after reports emerged that a group led by SBI will inject capital into the bank. SBI shares fell as-much-as 5.4% on the report, before reversing course to close 1% higher.
Thursday, March 5, 2020, 5:40 PM
SBI and LIC are set to pick up 49% stake in YES Bank by acquiring preferential shares in the private lender at Rs 2 per share, sources told ET NOW. SBI will likely be given exemption from open offer. It should be noted that a similar exemption was given to the lender in case of Union Bank of India in November 2019.
26 February 2020, Wednesday
What is Senior Citizen Savings Scheme? It is a savings scheme offered to senior citizens (above 6 ...
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