Yes Bank crisis HIGHLIGHTS: ED raids Rana Kapoor's Mumbai residence

The Reserve Bank of India has capped withdrawals at Rs 50,000 and imposed strict limits on operations at Yes Bank.

5:05 PM

Yes Bank crisis needs probe, hints FM

We should find out who and what led to this (crisis at Yes Bank): FM Sitharaman

5:02 PM

SBI ready to invest in Yes Bank, says RBI

State Bank of India has expressed willingness to invest in Yes Bank, says the central bank.

5:00 PM

Key points from RBI draft plan for Yes Bank

• Authorised capital of Yes Bank shall stand at altered Rs 5,000 crore
• RBI to appoint additional directors to new board of reconstructed Bank
• Number of equity shares stand altered to Rs 2,400 cr of Rs 2/each
• New Yes Bank to have a six-member board including CEO & MD

 

4:57 PM

FM Sitharaman on Yes Bank crisis

It is not that YES bank matter has come yesterday or today. I would like to place on record that since 2017, the RBI has been closely monitoring it. I can speak for May 2019 onwards where I have been directly involved in working with RBI. Govt has monitored it continuously, says FM Sitharaman

 

4:55 PM

RBI announces draft scheme for Yes Bank

The Reserve Bank of India says it placed in public domain a draft scheme of reconstruction of the Yes Bank Ltd.The Reserve Bank invites suggestions and comments from members of public, including the banks' shareholders, depositors and creditors on the draft scheme, says a press release. 

4:53 PM

30-day deadline moratorium outer limit: RBI

The Reserve Bank of India's work at Yes Bank aims to maintain "stability and resilience" in the Indian financial sector and the difficulties will be overcome "very swiftly", says Governor Shaktikanta Das. The 30-day deadline moratorium for the private lender is an "outer limit", he says.

4:42 PM

Interest of depositors govt priority: Sitharaman

Finance Minister Sitharaman has said the government's immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development," she says.

4:38 PM

Retail investors have taken a Rs 3,300-crore hit

Retail investors risk taking a hit of more than Rs 3,346 crore on their investments in YES Bank. In the December quarter, retail investors were the largest shareholders in YES Bank, controlling a 43 per cent stake in the bank. Such investors hold up to Rs 2 lakh worth of stake in their individual capacity in a company. Read here about investors may be impacted.

4:31 PM

Fast growth to quick fall: The story of Yes Bank's changing fortunes

Yes Bank was one of India's fastest growing banks but now has been put under moratorium and may get a government-planned bailout after it accumulated huge bad debts in its corporate and real estate portfolios. Here is how the story of it's decline and fall.

 

4:20 PM

RBI plan for Yes Bank soon

The RBI is likely to frame a reconstruction plan for troubled private lender YES Bank and send it to the interested lenders shortly, official sources told Business Standard on Friday. The RBI will send the reconstruction plan to YES Bank and lenders.