The Union government has issued a three-month moratorium on Hyderabad-based Global Trust Bank, effective close of business on Saturday in the interest of public and depositors.
In a move that could provide succour to existing customers of troubled Global Trust Bank, its acquirer Oriental Bank of Commerce said on Monday that lending rates would eventually come down in line with the PSU bank.
A 53-year-old man died on Thursday when a portion of the Gokulpuri Metro Station on the Pink Line in northeast Delhi collapsed, the police said.
It is too early to say what kind of impact the takeover will have on the financial health of OBC as a detailed valuation of assets and liabilities will be carried out in the coming days, prior to the takeover.
Non-emergency services, such as OPD and diagnostics, and elective surgeries at city-based health facilities, including at Centre-run AIIMS, Safdarjung hospital and RML hospital, are hit since Monday.
The crisis-ridden Global Trust Bank would be merged with Oriental Bank of Commerce, RBI said on Monday.
"Even the expired licence issued to the said hospital allowed for five beds only," Deputy Commissioner of Police (Shahdara) Surendra Choudhary said.
OBC, the buyer of GTB, said equity-holders will not get any value for their holdings now and can expect some relief only after 12 years if the troubled bank is left with any surplus value.
Designed by Ferrari Styling Centre, the 488 GTB can race from zero to 100 km/hr in 3 seconds.
In the face of the crisis in the Global Trust Bank, government on Monday committed to 'protect' the interests of depositors, with Finance Minister P Chidambaram saying deposits in the bank were 'reasonably safe.'
Oriental Bank of Commerce, which acquired Global Trust Bank last year, has filed 30 first information reports against GTB defaulters to recover Rs 1,300 crore (Rs 13 billion) of bad loans.
The withdrawal limit from the Global Trust Bank is likely to be enhanced soon, Union Finance Minister P Chidambaram said on Wednesday.
The integration process of Global Trust Bank with Oriental Bank of Commerce would be completed by June 2006, its chairman and managing director B D Narang said.
Oriental Bank of Commerce on Friday said its profit will dip this fiscal due to acquisition of the ailing Global Trust Bank and hinted at another round of voluntary retirement scheme to cut excess flab.
The officials of the Delhi Fire Services said the blaze broke out at the children's hospital in Shahdara on Saturday night.
Power distribution company officials said several areas, largely in central and east Delhi, were affected due to the failure. Some areas in north Delhi also faced outages.
The Securities and Exchange Board of India has found no insider trading in the shares of erstwhile Global Trust Bank before its merger with Oriental Bank of Commerce.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
"Allah ko pyaari ho gayi meri beti," said Ansaar, whose 11-day-old daughter was among the seven newborns killed in a blaze at a childcare hospital.
A young Dalit woman was allegedly thrown into a hot cauldron of a jaggery-making unit for protesting against molestation in the Budaun district, police said on Sunday.
The Delhi Police has made a strategic plan to avert any incident knowing Sandeep's notoriety and his previous records, the sources said.
Securities and Exchange Board of India, on Tuesday, debarred promoters of Global Trust Bank Ramesh Gelli and associates, and Ketan Parekh entities from dealing in GTB scrip in any manner.
Sanju Samson, then a skinny 14-year-old, curled on the bed in his hotel room, watched Kolkata Knight Riders' Brendon McCullum hammering a 73-ball 158 against Royal Challengers Bengaluru in the first-ever IPL match.
A 20-year-old youth was allegedly stabbed by his neighbour in a petty dispute in northeast Delhi's Dayalpur area, police said on Saturday.
With the setting up of doorframe metal detectors, CCTV cameras, drones and deployment of armed commandoes, a banquet in Delhi has turned into a fortress of sorts for the marriage of gangster Sandeep alias Kala Jathedi with 'history-sheeter' Anuradha Choudhary alias 'Madam Minz' on March 12, official sources said on Monday.
The Delhi Commission for Women (DCW) has issued a notice to the Ghaziabad police in connection with the brutal gang-rape of a 38-year-old woman recently, with the panel chief saying the attack reminded her of the Nirbhaya case.
A 35-year-old man was battered to death with bricks by a group of unidentified assailants following an altercation over car parking near a roadside eatery in Ghaziabad, police said.
DCW chief also said that strong action should be taken against the woman if her allegations are found to be false.
Still to come to terms with the loss of their loved ones in violence in parts of northeast Delhi, relatives are anxiously waiting outside GTB hospital's mortuary for the postmortem to be conducted before the bodies are handed over to them.
The visuals on social media also showed huge traffic on the National Highway-24 and Sarai Kale Khan where vehicles were crawling. Water from the overflowing Yamuna river reached ITO, a key route to commute from east Delhi to central Delhi and Connaught Place.
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