Business

People have started queuing up outside the branches of Yes Bank as its ATMs have stopped functioning after the bank was placed under moratorium by the Reserve Bank of India (RBI). “It was shocking that the RBI put a limit of Rs 50,000. I have tried to take out cash from ATMs […]

Equity indices slumped in opening trade on Friday with BSE Sensex crashing over 1400 points. The BSE Sensex fell 1459 points to trade at 37,011.09 in the opening session while Nifty slipped 362.30 points to trade at 10,906.70. Yes Bank’s shares fell by 15% in early trade following the Reserve […]

Shares in India’s fifth-largest private sector lender Yes Bank tumbled 25% to their lowest in over a decade on Friday, after the central bank took control of the bank and limited withdrawals because of a serious deterioration in its financial position. India on Thursday placed Yes Bank under a moratorium, with the Reserve Bank […]

Yes Bank, India’s fifth largest private sector lender, is in the middle of a crisis as the Reserve Bank of India (RBI) has taken over its affairs and placed strict limits on its operations. The RBI is also devising a rescue plan for the bank. Yes Bank’s financial position has been undergoing […]

Yes Bank, India’s fifth-largest private sector lender, was placed under a moratorium with the Reserve Bank of India (RBI) taking over from its board for 30 days and imposing limits on withdrawals to protect depositors. The rare and drastic move, the central bank said, was necessary because of a serious deterioration in […]

The coronavirus epidemic could rob passenger airlines of up to $113 billion (87.33 billion pounds) in revenue this year, an industry body warned on Thursday, while the head of Southwest Airlines said a drastic drop-off in travel demand seemed fear-driven, similar to the feeling after Sept. 11, 2001. “We could […]

Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing […]

Equity benchmark Sensex jumped nearly 300 points in opening session on Thursday tracking positive cues from global equities as central banks across the global prepare to combat the economic pressure of the coronavirus outbreak. After surging 299 points in early trade, the 30-share index was up 191.75 points, or 0.50 […]

In a significant verdict in favour of cryptocurrency -related businesses, the Supreme Court on Wednesday quashed an April 6, 2018 circular of the Reserve Bank of India (RBI) banning banks and financial institutions from providing services to any individual or business entities dealing with or settling cryptocurrencies, including Bitcoin. The […]

Airline industry lobby group the International Air Transport Association (IATA) on Tuesday warned that the coronavirus crisis has dealt a severe blow to air traffic and that carriers are facing a serious decline in demand. The coronavirus threat comes amid an economic slowdown in India which has already affected the […]

NEW DELHI: Vodafone Plc global chief executive officer Nick Read plans to come to India on 6 March and has requested a meeting with telecom minister Ravi Shankar Prasad, a person aware of the matter said requesting anonymity. “The meeting has not been confirmed by the government yet,” the person […]