English हिन्दी
Connect with us

India News

Govt committed to ensure depositors’ interests are safeguarded, says Nirmala Sitharaman as RBI caps withdrawal at Rs. 50,000

Minister of Finance and Corporate Affairs Nirmala Sitharaman today assured Yes Bank depositors that their money is safe and the  Reserve Bank of India (RBI) is working towards for an early resolution of the Yes Bank issue

Published

on

Finance Minister Nirmala sitharaman

Minister of Finance and Corporate Affairs Nirmala Sitharaman today assured Yes Bank  depositors that their money is safe and the government and Reserve Bank of India (RBI) is  committed towards ensuring that depositors’ interests are safeguarded.

“Our govt is committed to ensuring that depositors’ interests are safeguarded. I want RBI to ensure that due process of law is set to roll with a sense of urgency so that we should find out as to who led to the problem of this size & magnitude,” said the Minister.

Sitharaman has guaranteed Yes bank depositors, stating that their deposits, liabilities will not be affected.

“I have asked RBI to ago into assessing what has caused these difficulties for the bank and clearly identify the roles played by various individuals in creating the problem and not addressing it,” Sitharaman added.

“The immediate priority is to ensure Yes Bank customers are able to withdraw money within ₹50,000,” said Sitharaman.

Sitharaman has asked the RBI to assess the difficulties faced by the bank and to identify the roles played by various individuals in creating the problem.

According to Sitharaman, the RBI has been continuously monitoring & scrutinizing Yes Bank since 2017. “It noticed that there were governance issues and weak compliance in the bank. There was a wrong asset classification together with risky credit decisions,” she added.

The RBI also announced a scheme of reconstruction of Yes bank.

 

RBI has assured that the reconstruction plan will come into play within the moratorium period. The State Bank of India has also shared its willingness to invest in Yes Bank.

The RBI on Thursday  placed Yes Bank under a moratorium and restricted withdrawal from the capital-starved bank at Rs 50,000 in the next one month. This restriction will remain in place till April 3, 2020.

The RBI also superseded the bank’s board and appointed an administrator for the period.

In a statement late on Thursday, the regulator said it was forced to step in after Yes Bank’s latest effort to raise new capital failed to materialize and as the lender “was facing regular outflow of liquidity.”

This decision has affected the stocks as shares of Yes Bank on Friday plunged by almost 25 per cent on the Bombay Stock Exchange at Rs 27.65.

On the National Stock Exchange, Yes Bank shares dropped by 20 per cent to Rs 29.45.

India News

Rahul Gandhi is right, Gautam Adani should be arrested: RJD president Lalu Yadav

“Rahul Gandhi is right. Adani should be arrested,” said Prasad, who is an old ally of the Congress and a staunch opponent of the BJP, to which Adani is said to be close.

Published

on

RJD president Lalu Prasad Yadav on Friday spoke in support of Congress leader Rahul Gandhi’s demand for immediate arrest of Gautam Adani, after the Industrialist was charged in the US for alleged bribery and fraud.

Gandhi, the Leader of Opposition in the Lok Sabha, said on Thursday that Gautam Adani should be arrested immediately, and his protector Madhabi Puri Buch should be investigated

The former Congress chief claimed that the recent developments vindicate his long-standing allegations against Gautam Adani. He took a sharp dig at Prime Minister Narendra Modi and alleged that Modi is protecting Adani, and is also involved in corruption. 

Yadav, the former chief minister of Bihar, was responding to queries from journalists here about Gandhi’s statement on the previous day, in the backdrop of charges of bribery and fraud against the Adani group in the US.

“Rahul Gandhi is right. Adani should be arrested,” said Prasad, who is an old ally of the Congress and a staunch opponent of the BJP, to which Adani is said to be close.

The RJD supremo, who incidentally has been convicted in several fodder scam cases and is on bail, was also asked about prospects of the INDIA bloc, of which his party is a part, in Jharkhand, where the counting of votes for assembly polls is scheduled on Saturday.

Speaking to PTI, the ailing septuagenarian replied, “I would like to remain focused on my statement that Adani must be arrested. I am not worried much about a new government (in Jharkhand) where we are already in power.” Jharkhand witnessed a straight battle between the INDIA bloc and the BJP-led NDA, which included the JD(U) headed by Nitish Kumar, Prasad’s arch-rival and the current Chief Minister of Bihar.

Addressing a press conference on Thursday, Gandhi further said that Chief Ministers have been jailed for scams of Rs 10-15 crore, but Adani, who has committed a scam of Rs 2000 crore is walking free.

Continue Reading

India News

Cash for votes row: BJP leader Vinod Tawde sends legal notice to Rahul Gandhi, Mallikarjun Kharge, asks them to apologise or face defamation

The BJP leader said the allegations against him were false, baseless and made with malafide intentions.

Published

on

Cash for votes row: BJP leader Vinod Tawde sends legal notice to Rahul Gandhi, Mallikarjun Kharge, asks them to apologise or face defamation

BJP leader Vinod Tawde, accused of distributing cash to influence voters, has sent a legal notice to Congress leaders Mallikarjun Kharge, Supriya Shrinate and Rahul Gandhi over the controversy. The BJP leader has demanded their apologies or face a Rs 100-crore defamation case.

Vinod Tawde’s legal notice came after regional party Bahujan Vikas Aghadi (BVA) leader Hitendra Thakur on Tuesday accused him of distributing Rs 5 crore at a hotel in Virar in Palghar district, 60 km from Mumbai, to woo voters.

In the legal notice, the BJP leader said the allegations against him were false, baseless and made with malafide intentions. He claimed that he demanded an apology from the three Congress leaders for their remarks against him in the cash-for-votes row or he would be forced to initiate criminal proceedings against them.

Just a few hours before the Assembly Elections, a video went viral on Tuesday showing BVA workers storming into the hotel in Palghar during a meeting between Vinod Tawde and Rajan Naik, the BJP candidate from the Nalasopara seat. The BVA workers alleged that Tawde was caught red-handed with Rs 5 crore cash.

In the viral video, the BVA workers were seen taking out bundles of cash from a bag, while Tawde was sitting at a distance. The BVA workers also took pictures and videos of him on their phones. Amid these allegations, BVA leaders said that Rs 5 crore cash was distributed, an election official on Tuesday said Rs 9.93 lakh cash was recovered from the hotel rooms.

However, Vinod Tawde denied the allegation, saying he was only providing guidance to party workers on poll procedures and said he was not stupid enough to distribute money at his opponent’s hotel. Speaking to the media, he said that the Vivanta Hotel is owned by the Thakurs, and he is not stupid to go to their hotel and distribute money there.

The Police registered two FIRs against Tawde, BJP candidate Naik and others in connection with the controversy. Additionally, the Election Commission filed three FIRs against Tawde.

Continue Reading

India News

3 dead, 9 hospitalised after gas leak at fertiliser plant in Maharashtra

According to police, the explosion released toxic chemical fumes.

Published

on

Three individuals, including two women, lost their lives and nine others were hospitalised following a gas leak caused by an explosion in a reactor at a fertiliser plant in Maharashtra’s Sangli district, an official said on Friday.

The incident occurred at approximately 6:30 PM on Thursday at the Myanmar Chemical Company, located in Shalgaon MIDC within Kadegaon tehsil.

Sangli Superintendent of Police Sandip Ghuge stated that the gas is suspected to be ammonia.

According to police, the explosion released toxic chemical fumes. “Approximately 12 people in the facility were affected and subsequently taken to the hospital. Tragically, two female workers and a security guard have died, while nine others are currently receiving treatment,” stated Sangram Shewale, Senior Inspector at Kadegaon police station.

Seven of the injured individuals have been admitted to Sahyadri Hospital in Karad, with five of them in critical condition in the ICU.

The deceased women have been identified as Suchita Uthale (50) from Yetgaon in Sangli district and Neelam Rethrekar (26) from Masur in Satara district, PTI reported.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com