As the news of the collapse of the 4th largest private sector bank, ‘Yes Bank’ came out on Thursday customers were in shock and panic. However, what came out as a sudden thing in face of Reserve Bank of India (RBI) taking control was a result of a long chain of problems. The bank whose...
Authorities of the richest temple in Tirupati, Tirumala temple, are being praised for withdrawing Rs 1,300 crores from Yes Bank in October 2019, hence, thwarting the chances of getting its money stuck due to the current crisis. Tirumala Tirupati Devasthanams (TTD), which manages the affairs of Tirumala temple, had withdrawn the money from the bank. A...
Yes Bank shares in early trade on Friday plunged by a whopping 85% after RBI suspended the private sector lender’s board for a period of 30 days. This comes “owing to serious deterioration in the financial position of the Bank,” which has failed to raise additional capital from the market to fight its debt woes....
