RBI was forced to step in after Yes Bank’s latest effort to raise new capital failed to materialise and the lender ‘was facing regular outflow of liquidity’.
The rescue plan will throw a lifeline to Yes Bank which has been struggling to raise capital since the middle of last year, as it has faced a surge in bad loans.
SBI chairman Rajnish Kumar says he’s certain ‘some solutions will emerge’ to steady Yes Bank, which has been on a prolonged quest to raise new capital.
The RBI assessed that Yes Bank’s non-performing assets stood at Rs 111.6 billion as of March 31, more than the Rs 78.8 billion the bank had disclosed for the year.
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.
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