India’s central bank said the seizure was prompted by a “serious deterioration” in Yes Bank’s financial position
India’s banking regulator seized control of a struggling commercial bank, the first time in more than a decade that the government has stepped in to backstop a private lender.
The Reserve Bank of India, the nation’s central bank, said Thursday evening that it had superseded the board of directors of Yes Bank Ltd., prompted by a “serious deterioration” in Yes Bank’s financial position.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Central Bank seen on hold despite recession risks doubling: Reuters pollThe European Central Bank will not follow the Federal Reserve in cutting interes...
Read more »
America’s central bank acts to offset the impact of covid-19Will rate cuts ease financial conditions for struggling firms, and help the world economy recover once the virus is under control?
Read more »
6 Ways Your Bank Can Help You Manage Your MoneyYour bank can help you manage your money, with text or email alerts, online bill pay and mobile check deposit.
Read more »
Wall Street plunges as coronavirus slams bank, travel stocksWall Street falls more than 3% amid uncertainty of coronavirus and its economic fallout; shares of banks and travel companies pummeled
Read more »
Wells Fargo has announced two new bank accounts that limit or remove overdraft fees - Business InsiderWells Fargo announced two new bank accounts that limit customers' exposure to overdraft fees – catering to consumer demand and elevating new business.
Read more »
More firms expect Brexit uncertainty to stretch into 2021: Bank of EnglandMore than three-quarters of British firms that took part in a Bank of England su...
Read more »