Writes to shareholders highlighting its performance, governance practices.
The YES Bank family tussle puts focus on RBI guidelines on appointment of directors.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
Shagun Kapur Gogia might not have convinced her uncle Rana Kapoor, managing director and chief executive of YES Bank, to appoint her as a board member of the bank, but it appears she has successfully carved out her own space in the financial world.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
The government is likely to name a successor to Rajan sometime this month
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
However, some experts also feel that there is a case for front-loading of interest rate cut to give a push to the economy
Bombay or Mumbai? Was a senior minister miffed by a breach of protocol? Why did the police commissioner not find a place on the dais? Vignettes from 'Make in Mumbai.'
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
The purple carpet was rolled out for the OTTplay Awards 2023.
If the trailer is any indication, Ranbir Kapoor's Animal will be one of the most violent films of 2023.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
In a letter addressed to Gogia's mother, Madhu Kapur, who holds a 12 per cent stake in YES Bank, the private lender said its board of directors, after extensive deliberations, had unanimously agreed not to accept her recommendation to appoint her daughter on the board.
Will these 2024 releases -- bookended by Rajinikanth no less -- make a dhamaka at the box office?
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.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
India Inc on Wednesday said the Reserve Bank's move to cut interest rate by 0.50 per cent is "pro-growth" and exhorted banks to transmit the lower interest rate to borrowers to revive demand and kick-start the investment cycle.
The scrip was the worst hit among the front-line companies on both the indices during the day.
Short sellers may capitalise on the weak sentiment owing to the dispute between co-founders Rana Kapoor and Madhu Kapur.
A clutch of professional talent management firms is changing the balance of demand and supply in India's entertainment industry, writes Vanita Kohli-Khandekar.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Awfis stands out for its 'ambience' and 'ease of doing business'.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
