Withdrawals...

The Central bank’s move is aimed at preventing a run on the bank. Such an event can cause a contagion in the entire banking system as financial institutions are interlinked. A lot will now depend on the administrator’s recommendations on the real financial state of Yes Bank and RBI’S choice of the merger partner. Under the moratorium, Yes Bank is barred from activities such as granting or renewing loans, making investments, incurring liabilities, transferring or disposing of any properties or assets. However, the bank is allowed to meet expenditures towards employee salaries, taxes, rent and legal expenses.

“The Reserve Bank assures depositors of the bank that their interest will be fully protected and there is no need to panic. In terms of the provisions of the Banking Regulation Act, the Reserve Bank will explore and draw up a scheme in the next few days for the bank’s reconstruction or amalgamation and with the approval of the Central government, put the same in place well before the period of moratorium of 30 days ends so that the

HYDERABAD: A Revanth Reddy, a Congress member of Parliament (MP) from Malkajgiri constituency, was arrested by Cyberabad Police on Thursday evening from Rajiv Gandhi International Airport at Shamshabad after his flight landed from Delhi.

Reddy is one of the accused in a case related to using drone camera without permission to depositors are not put to hardship for a long period of time,” the statement said.

Yes Bank’s financial position has been undergoing a steady decline largely due to its inability to raise capital. The bank has also experienced serious governance issues and practices in recent years, leading to a steady decline.

RBI said that it has been in constant touch with the bank’s management to find ways to strengthen its balance sheet and take pictures and videos of minister and Telangana Rashtra Samithi (TRS) working president KT Rama Rao’s farmhouse at Janwada village in Rangareddy district on Monday.

Reddy, who is also the working president of Telangana Pradesh Congress Committee (TPCC), was produced before the eighth metropolitan magistrate liquidity. The regulator even met a few private equity firms that were exploring opportunities for infusing capital into the bank. “Since a bank and market-led revival is a preferred option over a regulatory restructuring, the Reserve Bank made all efforts to facilitate such a process and gave adequate opportunity to the bank’s management to draw up a credible revival plan, which did not materialise. In the meantime, the bank was facing regular outflow court at Upparpalli, which remanded him to a 14-day judicial custody at Cherlapally Central Jail.an official statement from Cyberabad Police, however, said Reddy came to the police station on his own and surrendered. The statement said Reddy argued with the police for naming him in the First Information Report (FIR) in the case. of liquidity,” it added.

The latest development comes six months after the regulator did the same with the city-based cooperative lender PMC Bank after a large scam was unearthed.

In 2010, RBI encouraged a merger between the Bank of Rajasthan and the ICICI bank. The central bank had found serious violations of banking regulations by the promoters of Bank of Rajasthan, including those on corporate governance.