User: zainab Topic: IFIs
Category: Microfinance
Last updated: Jul 01 2020 01:14 IST RSS 2.0
 
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Mkts end settlement day lower; oil & gas, FMCG, au ... 24.3.2028 CNN-IBN Top Stories
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Mkts volatile; cap goods, metals up, pvt banks dip ... 17.3.2028 CNN-IBN Top Stories
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'Ministry should end controversies related to GDP' 1.7.2020 Rediff: Business
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
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Why MFIs could end up losing Rs 1,500 cr 18.6.2020 Rediff: Business
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
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YES Bank restructures salaries of senior employees 1.6.2020 Rediff: Business
About 300 employees would come under the ambit of voluntary decision.
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No F&O contracts for Yes Bank after May 28: NSE 1.6.2020 Central Chronicle
Mumbai, All existing futures and options (F&O) contracts of Yes Bank, across all expiries, will expire on May 28, 2020, a cicrular issued by the National Stock Exchange of India (NSE) said on Friday. No futures and options contracts will be available in Yes Bank for trading in equity derivatives segment from May 29, 2020, onwards, it said.Due to the recent development in Yes Bank, it has decided that no fresh or renewal of bank guarantees and fixed deposit receipts issued by Yes Bank shall be accepted, it said. Besides, NSE said the existing benefit provided to members towards bank guarantees and fixed deposit receipts issued by Yes Bank in favour of NSE clearing will be reduced. Haircut in respect of shares of Yes Bank provided as collaterals shall be revised to 100 per cent with effect from the beginning day of March 06, 2020, said NSE.The NSE released the circular after the Reserve Bank of India (RBI) imposed a moratorium on Yes Bank and restricted withdrawals. The bank will not be allowed to pay ...
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Yes Bank customers throng branches after RBI puts restriction on withdrawal 1.6.2020 Central Chronicle

Lucknow, Customers of Yes Bank rushed to their branches on Friday after they were informed through media and other sources, that RBI has put restriction on their withdrawal till April 3. Large number of customers, several of them senior citizens, queued up before the branches at Hazratganj at Tulsi Theatre and in front of the Raj bhawan colony before the bank opened at 1000 hours. The branch officials informed the police to provide security and thereafter, the customers were allowed to enter the branch. On Thursday, RBI had suspended the Yes Bank's board for a period of 30 days "owing to serious deterioration in the financial position of the Bank" and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3.

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Modi and his ideas have destroyed India's economy, Rahul on Yes Bank crisis 1.6.2020 Central Chronicle
New Delhi, Hitting out at the Union government over the Yes Bank crisis, former Congress president Rahul Gandhi on Friday said Prime Minister Narendra Modi and his ideas have destroyed India's economy. Taking to twitter, Mr Gandhi said, "No Yes Bank. Modi and his ideas have destroyed India's economy". The Congress leader's response came a day after Reserve Bank of India put a moratorium on the withdrawals from the Yes Bank, restricting the withdrawal of deposits to Rs 50,000 for a period till April 3, 2020. Earlier in the day, senior Congress leader and former Finance Minister P Chidambaram also criticised the government and said that the ability of the BJP government to govern and regulate financial institutions stands exposed. 'BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed. First, it was PMC Bank. Now it is YES Bank. Is the government concerned at all? Can it shirk its responsibility? Is there a third bank in the line?', he tweeted. Any ...
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BJP govt's ability to govern & regulate financial institutions stands exposed:Chidambaram 1.6.2020 Central Chronicle
New Delhi,Responding to the government's decision to put a moratorium on the limit of withdrawals from the Yes Bank till April 3, senior Congress leader and former Finance Minister P Chidambaram on Friday said that the ability of the BJP government to govern and regulate financial institutions stands exposed.In a post on social media, Mr Chidambaram said, 'BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed First, it was PMC Bank. Now it is YES Bank. Is the government concerned at all? Can it shirk its responsibility? Is there a third bank in the line?'The RBI on Thursday put a moratorium on the withdrawals from the Yes Bank.The Reserve Bank of India on Thursday imposed a moratorium on Yes Bank, restricting the withdrawal of deposits to Rs 50,000 for a period till April 3, 2020.Any withdrawal over the amount will require the permission of the RBI.The moratorium is applicable from 1800 hrs on March 5 to April 3, 2020.The RBI also said that it is ...
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Sensex crashes 1,212 pts 1.6.2020 Central Chronicle
Mumbai, The benchmark index of Bombay Stock Exchange (BSE) sensex on Friday tanked by 1,212 points at 37,011.09 in opening trade following sell-off in global markets, as fear of the spread of the coronavirus and its economic impact gripped investors.Another reason was, as the Reserve Bank of India on Thursday superseded the board of YES Bank, imposing a 30-day moratorium on it 'in the absence of a credible revival plan' .The Nifty of National Stock Exchange (NSE) too dropped 371 points at 10,897.45.The Sensex registered intra-day high and low at 37,613.96 and 37,011.09 points respectively.The Nifty recorded day intra-day high and low at 10,981.90 and 10,827 points respectively.The sectoral indices like Materials, Consumer Durable, Realty, FMCG, Finance and Bankex stocks dragged the market up in early trade.In scrips, major losers were IndusInd Bank by 7.88 pc to Rs 990 followed by SBI by 6.56 pc to Rs 269.40, Tata Steel by 6.42 pc to Rs 351.55, Bajaj Finance by 4.92 pc to Rs 4122.25 and ICICI Bank by ...
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Huge scam in YES Bank for many years, say ED 26.5.2020 Rediff: Business
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
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Future looks bleak for Rana Kapoor-funded firms 15.5.2020 Rediff: Business
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
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RBI cancels licence of CKP Cooperative Bank, cites its ‘adverse, unsustainable’ financial position 3.5.2020 Scroll.in - News that matters
The central bank said that CKP Cooperative Bank has no revival plan or a plan for a merger with another bank.
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'India's GDP projections by WB, IMF too optimistic' 16.4.2020 Rediff: Business
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
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Explained: The 3-month loan moratorium 14.4.2020 Rediff: Business
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
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The rise and mighty fall of Rana Kapoor 6.4.2020 Rediff: Business
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
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'Can government play with people's money?' 2.4.2020 Rediff: Business
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
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'Nationalise all private banks!' 31.3.2020 Rediff: Business
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
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Many people voluntary donate to the Chief Minister's COVID -19 Relief Fund through electronic transfer 27.3.2020 Manipur: E-Pao
Many people voluntary donate to the Chief Minister's COVID -19 Relief Fund through electronic transfer
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Gandhi and Narayan in Yes Bank board 20.3.2020 Hindu: Health
New board to take charge on March 26
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