The Asian Age

`60K-cr RBI credit line for Yes Bank Anil Ambani questioned for 9 hours


New Delhi, March 19: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank has resumed normal operations from Thursday.

The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also is a reaffirmat­ion of the governor's statement on Monday that the central bank was ready to provide all the necessary liquidity support to Yes Bank.

The move comes after 16 years when a similar credit line was opened for Global Trust Bank in 2004.

The line of credit of about Rs 60,000 crore, however, comes with a caveat-the first such, the sources said. A senior central bank officer, who wished not to be named, said, "We've opened an emergency line of credit ready for Yes Bank worth Rs 59,000 crore to meet any eventualit­y on the liquidity front."

"The credit line against the is balanced bank's

Mumbai, March 19: The ED on Thursday questioned Reliance Group chairman Anil Ambani for about nine hours in connection with a money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said.

The Enforcemen­t Directorat­e has asked the businessma­n to appear before it again on March 30.

Essel Group chairman and Rajya Sabha MP Subhash Chandra, who skipped his first appearance on March 18 owing to his engagement in the ongoing Parlia-ment session, has also been issued

current account balance which is of same amount as of now," the official told PTI on Thursday—a day when the lender completes a full-day of normal services after the 13 days of moratorium and curbs. a fresh summon to appear before the investigat­ive agency on March 21.

Officials said the statement of Ambani, 60, was recorded under the

Though the bank has begun normal operations, many of its branches bore a deserted look, partly amid fear of coronaviru­s infection.

The bank resumed full operations from 6 pm on

Prevention of Money Laundering Act (PMLA).

He arrived at the Enforcemen­t Directorat­e office at Ballard Estate here around 9:30 am and left around 7 pm.

Ambani's nine group companies, which were reportedly under "stress", are stated to have taken loans adding up to about Rs 12,800 crore from the crisis-ridden bank.

Ambani was first called for questionin­g on Monday but he sought exemption from appearance on personal grounds. The ED then issued him fresh summons to appear on March 19. —PTI

Wednesday. PTI visited four branches of the private lender - two in the central suburb and two in Navi Mumbai, where hardly one to two customers were seen.


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