While investors hastened to dump bonds, the sensex plunged as much as 3.8%, one of the biggest declines in Asia, and the rupee weakened to a record low.
The crisis at India’s fourth-largest private lender, Yes Bank, is a reflection of the wider set of problems being faced by India’s banking and financial sector.
The Finance Minister said the crisis-ridden bank was being monitored since 2017 and developments relating to it were being monitored on a day-to-day basis.
Yes Bank should’ve been overseen by a Resolution Authority, depositors shouldn’t have had to face moratorium. Now SBI or LIC shouldn’t be forced to buy it.
Sitharaman says RBI governor has assured her there will be no loss to any depositor and the steps taken are in their interest as well as of the banks and the economy.
RBI Governor Shaktikanta Das said the banking sector 'continues to be sound and safe' and the central bank was ready to effectively deal with the challenge.
On 6 December 1948, TT Krishnamachari spoke in the Constituent Assembly during a debate on Article 19, supporting it as it is, including how it's framed in the matter of religion.
Extreme weather events have impacted 50% of corporate respondents to a recent survey. This underlines the importance of significant action now to increase climate resilience.
Iran used Shahab-3, along with Fattah-1 hypersonic missiles, to attack Israel after the killing of Hezbollah leader Hasan Nasrallah in air strikes on Lebanon's Beirut.
How come Indonesia, Malaysia, Turkey and Sri Lanka remain constitutional, democratic and stable despite Islam and Buddhism respectively, but Pakistan, Bangladesh and Myanmar don’t?
What else to expect if 2 people decide they would like to run the whole country directly, ensuring they weaken the governance institutional frameworks and all institutional leadership. Today we have not an economist but MA in history leading our central bank.
Andher nagri
Chaupat Raja
What else to expect if 2 people decide they would like to run the whole country directly, ensuring they weaken the governance institutional frameworks and all institutional leadership. Today we have not an economist but MA in history leading our central bank.