India's Yes Bank rescue plan approved, posts big loss


  • India Premium
  • Sunday, 15 Mar 2020

NEW DELHI: A central bank-backed proposal to rescue embattled Yes Bank has been approved and withdrawal limits will be lifted, officials said, as India's fourth-largest private lender posted a big quarterly loss.

Yes Bank was struggling with bad loans and on the brink of collapse when the Reserve Bank of India seized control of the lender on March 5 and imposed withdrawal limits for customers.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Yes Bank , India , Rescue Plan Approved

   

Next In Regional

As China shuts out world, Internet access from abroad gets harder too Premium
Imran Khan and America Premium
Asean tourism: Hot and bothered Premium
PM: Chicken prices will not be floated Premium
Jail for man in SG who took upskirt video of teen while out on bail over similar offence Premium
Use authorised channels to recruit foreign maids or risk termination, warns Papa Premium
Efforts to shine a light on Sabah's gibbons through Kota Belud project Premium
FBM KLCI rebounds 0.39% after two days of decline Premium
S.Korean leader's informal media events are a break with tradition Premium
Report: Gojek says no plans to enter Malaysia market after vehicle with logo spotted in town Premium

Others Also Read