The RBI plan to write down Yes Bank’s perpetual securities threatens to hurt fund-raising when India’s economy is growing at the slowest pace in 11 years.
The biggest error in the plan executed to rescue Yes Bank was to trap depositors through Rs 50,000 withdrawal cap. It was both unnecessary and dangerous.
SBI chairman says if it picks up 49% stake in Yes Bank under RBI’s draft reconstruction scheme, the immediate investment requirement will be Rs 2,450 crore.
K.V. Subba Reddy says while examining the books of accounts, he realised the financial status of Yes Bank was not sound, and decided to withdraw the amount.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
Nonsense……. everybody has a voice, if this Manch has voice, it is it’s own.