Advertisement

Why Yes Bank collapsed and how to check bank's financial health

Yes Bank, weighed down by an increasing pile of bad debt, has struggled for months to raise the capital it needs to stay above regulatory requirements, without any success. On Thursday, the Reserve Bank of India (RBI) took control of Yes Bank, imposed limits on withdrawals to protect investors and said it would work on a revival plan. The move led to a 56% fall in Yes Bank's share price on Friday, and spooked depositors, who rushed to withdraw funds from the bank. Analysts said the move to bring in SBI to stabilise things was a good first step but more funds would be needed to bailout the lender. Here's what our experts have to say.

Read More

VIDEOS FROM OTHER SECTIONS

LATEST VIDEOS

Video: Yogi Adityanath gifts saffron gamcha to Suvendu Adhikari at his oath-taking

Yogi Adityanath on Saturday presented a saffron gamcha to Suvendu Adhikari, shortly after the latter took oath as the first BJP Chief Minister of West Bengal. The crowd also erupted into a loud cheer as the scene unfolded at the swearing-in ceremony in Kolkata. This was at least the second such instance in recent weeks when the duo's bonhomie was witnessed publicly. Earlier, during the election campaign in the state, a powerful scene was witnessed when Adhikari bowed down at the feet of the UP Chief Minister as a mark of respect.

Video: PM Modi hugs, touches feet of 98-year-old BJP veteran in Bengal

Prime Minister Narendra Modi on Saturday hugged and honoured 98-year-old Makhanlal Sarkar, one of the earliest and senior most members of the BJP. The scene unfolded on the stage ahead of Suvendu Adhikari's swearing-in as West Bengal's Chief Minister in Kolkata. PM Modi also touched Sarkar's feet and presented a shawl to him as a mark of respect. In 1952, Sarkar was arrested in Kashmir while he was accompanying Dr Syama Prasad Mookerjee as the latter was marching to hoist the tricolour there. BJP IT cell head Amit Malviya described the elderly party leader as "one of the earliest grassroots figures associated with the nationalist movement in post-Independence India."

advertisement