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The court was hearing a plea by a real estate company seeking direction to Yes Bank not to take any coercive steps for its failure to pay loan installments since January.
The Enforcement Directorate official said that Anil Ambani's group companies have taken loans of about Rs 12,800 crore from the crisis-ridden bank that turned NPA.
If RBI doesn’t make digital rupees available, people could end up storing their wealth in Silicon Valley-sponsored tokenized money or Beijing’s digital yuan.
Yes Bank bailout comes with an unusual rider: Investors with more than 100 shares can’t sell 75% of holding for at least 3 years.
The gross non-performing assets shot up to Rs 40,709 crore as of December 31, 2019, up from the preceding September quarter's Rs 17,134 crore.
There’s no silver-bullet solution for India’s financial sector, and to rebuild confidence, boring things need to be done. RBI has much to think about.
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.
India urgently needs legislation to tackle bad loans while allowing banks to fail without inducing system-wide panic. But no legislation is imminent.
RBI move is aimed at countering flight of deposits from private lenders to public sector lenders amid developments at troubled Yes Bank.
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