Yes Bank Reconstruction Scheme 2020 will come into force on 13 March. The private lender's moratorium will be lifted 3 working days after the commencement of the scheme.
Finance Minister Nirmala Sitharaman said the moratorium on the Bank will be lifted within 3 days of notification of the scheme and its board will be in place in 7 day.
Yes Bank takeover is first instance of a large bank falling prey to contagion from NBFC crisis that policy makers have struggled to contain for 18 months.
SBI will pick up 49 per cent stake in Yes Bank and cannot reduce its holding to below 26 per cent before three years from the date of capital infusion.
Private sector banks were once considered to be more accountable with stringent regulatory practices in place. Yes Bank crisis has undermined these assumptions.
In the capitals that will now be the unhappiest, a Kamala Harris victory was presumed, and a lot of actions and calculations were predicated upon that.
India-US trade in first 3 yrs under Biden was $122 bn, while it was $83 bn in Trump’s first term. Average trade surplus in India’s favour grew from $18 bn under Trump to $31 bn under Biden.
The Chinese aircraft has uncanny similarities to the American F-35 jet. There are claims that China copied the design. Cyber theft of F-35 design data was reported in 2009.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
COMMENTS