Yes Bank Crisis Live Updates: CBI files FIR against Rana Kapoor and DHFL's Kapil Wadhawan

09 Mar, 20 : 03:21 PM

CBI files FIR against Rana Kapoor and DHFL's Kapil Wadhawan

After the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI) has also started a probe against the Yes Bank founder Rana Kapoor in connection with a case pertaining to the alleged financial irregularities involving Yes Bank and reality company Dewan Housing Finance Limited (DHFL).

09 Mar, 20 : 12:32 PM

CBI raids 7 locations in Mumbai in YES Bank case 

The CBI on Monday carried out searches at seven locations here in connection with a corruption case registered against Yes Bank founder Rana Kapoor, Dewan Housing Finance Limited (DHFL) as well as its promoter Kapil Wadhawan. Primarily, the exact locations searched by the Central Bureau of Investigation (CBI) teams were not known yet but agency sources confirmed that the places belonged to the accused named in the First Information Report (FIR).

09 Mar, 20 : 11:32 AM

The situation is especially grim for customers carrying Yes Bank forex prepaid cards instead of currency notes, with their access to payments for hotel room accommodation, transport and even food - virtually cut off.

07 Mar, 20 : 04:29 PM

Yes Bank failure exposes India to wider credit risk: Nomura

Even as the government and the Reserve Bank of India (RBI) try to put together a rescue arrangement for YES Bank, global investment firm Nomura has warned that these repeated relief measures are symptomatic of wider credit risks that still lurk in India’s financial system.

07 Mar, 20 : 04:22 PM

3 Maharashtra civic bodies stuck in Yes Bank

For the second time in recent weeks, the Maharashtra government has sought details of the funds lying with various private sector banks following the Yes Bank imbroglio that erupted on Thursday night, official sources said here on Saturday. The state's move came even as at least three major civic bodies have admitted that their deposits of around Rs 1,125 crore are stuck in the beleaguered Yes Bank.
 

07 Mar, 20 : 04:20 PM

ED shifts Yes Bank's Rana Kapoor to Mumbai office for quizzing

A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai for further questioning. Kapoor, who was grilled by central agency's officials on Friday night at his Samudra Mahal residence in Mumbai, was shifted to the ED office in the metropolis around 12.30 pm. ED officials said Kapoor was questioned throughout the night, with some rest time.

07 Mar, 20 : 11:51 AM

"My nephew's salary account is in YES Bank, I have asked him not to worry" - Rajnish Kumar

07 Mar, 20 : 11:49 AM

SBI Chief refuses to comment on AT 1 bonds being written off in the draft resolution scheme

One of the biggest losers in case the RBI's restructuring scheme for Yes Bank goes through will be the additional tier-I bond holders who have bets totalling to Rs 10,800 crore on the lender. The investors in such instruments typically include mutual fund houses and bank treasuries, experts said.

07 Mar, 20 : 11:48 AM

Won't seek capital from goverment for YES Bank investment: SBI

The minimum investment for SBI would be Rs 5,500 crore if it picks 26 per cent stake in Yes Bank. “SBI may or may not pick the entire 49% in the bank,” said SBI Chief Rajnish Kumar. He hoped that SBI would get many co-investors to implement this scheme. Kumar said SBI would not seek capital from the government for this investment.

07 Mar, 20 : 11:47 AM

Interest of shareholders will not be compromised: SBI

In its draft 'Yes Bank Ltd. Reconstruction Scheme, 2020', RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion. The draft came a day after the RBI imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3.

07 Mar, 20 : 11:38 AM

Yes Bank's new MD cannot be from SBI - Rajnish Kumar

"We have the right to appoint two nominee directors and suggest names for Managing Director and Chief Executive Officer’s role that will be done." 

07 Mar, 20 : 11:35 AM

Fate of Yes Bank Employees

Yes bank's employees have been given protection under the reconstruction scheme, it is important to keep their morale high.

07 Mar, 20 : 11:30 AM

Don’t believe that our contribution toward Yes Bank will exceed Rs 10,000 crore.
 

07 Mar, 20 : 11:21 AM

“Yes Bank is an entity and Rana Kapoor is an individual. If the individual has done something wrong, they will face the consequences. The institution doesn’t have to suffer for that.” - Rajnish Kumar, SBI Chairman.
 

07 Mar, 20 : 11:17 AM

Will Have To See How Investors Value Yes Bank: Rajnish Kumar

Investment decisions are by choice. No compulsions. Have to give assurance to potential investors and depositors. That's why we are stepping in There is a certain process which has to be followed when a bank is being reconstructed. It had to be done.
 

07 Mar, 20 : 11:11 AM

There Is No Question Of Any Conflict Of Interest: SBI Chairman

SBI's minority shareholders are very important for us. We will be keeping their interests in mind SBI's philosophy is not to thrive in misery of others Like all our associates and subsidiaries, we will keep Yes Bank investment at arm's length.
 

07 Mar, 20 : 11:09 AM

Bank Failure Has Huge Effects On Economy And Banking System: SBI Chairman

A small, medium or big bank's failure has huge effects on the economy and the banking system To say that private enterprises should not be saved is wrong. Any enterprise is a national asset and closing it down is a loss for everyone. The U.S. and the U.K., considered capitalist role models, have stepping in to save private enterprises Wherever help Is required from us as a creditor or lender, we have always extended help.

07 Mar, 20 : 11:08 AM

Yes Bank Depositors' Money Not At All At Risk: SBI Chairman

As far as depositors are concerned, there might be some inconvenience But as far as safety of their money is concerned it is fully safe.
 

07 Mar, 20 : 11:06 AM

Will Make Rs 2,450-Crore Initial Investment: SBI Chairman

SBI will be taking over 49 percent stake and will maintain a minimum of 26 percent stake for three years.

07 Mar, 20 : 11:04 AM

Total quantum of investment in Yes Bank at Rs 2,450 crore: SBI chief.
 

07 Mar, 20 : 11:03 AM

Our investment and legal teams are looking into the draft scheme of reconstruction for Yes Bank: SBI chairman

07 Mar, 20 : 11:03 AM

There will be no impact on balance sheet: SBI
 

07 Mar, 20 : 11:02 AM

SBI shareholders have nothing to worry about, says bank's chairman on Yes Bank stake acquisition.

07 Mar, 20 : 11:01 AM

The inconvenience is a matter of few days. The money of depositors is not at risk: SBI chairman

07 Mar, 20 : 11:00 AM

23 expressions of interest received: SBI
 

07 Mar, 20 : 10:59 AM

There are many potential investors who have approached us: SBI

07 Mar, 20 : 10:59 AM

Plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that SBI board has given in-principle approval of exploring possibility of picking up a stake of upto 49% in Yes Bank: SBI chairman Rajnish Kumar.