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Yes Bank moratorium lifted, banking ops resume

Yes Bank on Wednesday announced that it has resumed complete banking services, which was stopped after the RBI placed it under moratorium earlier this month. Taking to Twitter, the crisis-hit bank stated: “Our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation.”

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Yes Bank crisis: Fear factor hits pvt lenders

Smaller private banks were bearing the brunt of collateral damage triggered by the crisis in Yes Bank. Dogged by rumours and news of state authorities shifting business to public sector lenders dragged down the share prices of some private banks (see graphic). A few of them were forced to issue statements as rumours got out […]

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Should RBI get search, surveillance powers?

The recent problems in the financial sector, including the latest action against Yes Bank, have triggered discussions in official circles over the need to provide surveillance and search powers to regulators, including the Reserve Bank of India (RBI), which currently limits its role to supervising and inspecting banks and finance companies under its remit.

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Rana Kapoor’s ED custody extended till March 16

A special court on Wednesday extended till March 16 the Enforcement Directorate (ED) custody of Yes Bank founder Rana Kapoor, arrested on money laundering charges. During the hearing, the ED told the special Prevention of Money Laundering Act (PMLA) court that Kapoor had sanctioned loans worth Rs 30,000 crore to different entities during his tenure.

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Big loans issued by Yes Bank under ED scanner

The Enforcement Directorate (ED) is looking into more multi-crore rupees loans issued by Yes Bank to corporate houses that turned NPAs as part of its money-laundering investigation against its arrested promoter Rana Kapoor, said officials. ED has widened its probe in the case beyond the loan to DHFL and is now looking for more evidence […]

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Working to restore all services: Yes Bank admin

RBI-appointed Yes Bank administrator Prashant Kumar on Monday said the lender is working to restore all banking services for its customers as soon as possible. “For us, the first priority is the customers and how to provide the seamless business…,” Kumar said. He further added, since Saturday evening the ATMs of other banks were also […]