The revised rescue plan for YES Bank looks better but it remains to be seen if it will be adequate to repair the damage done to confidence in the bank
The move comes even as the impact of coronavirus is beginning to be felt in India, raising further risks to economic growth and NBFI asset quality
Firms say there are limits to audits identifying ever-greening of loans, or flagging suspect collateral securities
"We are in the process," said Prashant Kumar, the administrator appointed by the Reserve Bank of India (RBI)
Infra giant has Rs 100 crore of exposure to bank's AT-1 bonds
To seek provisional attachment in next few weeks
The statement comes in the wake of the Yes Bank crisis, following which stock prices of various banks went sharply down.
Proceeds to be used to shore up liquidity
The announcement comes a day after its customers were allowed inward IMPS and NEFT services for the same purposes
The SLB mechanism allows traders to borrow securities that they may not have to meet their obligations
Max Life has Rs 2,000 crore exposure to YES Bank's tier-2 bonds and the latter accounts for 11 per cent of its bancassurance channel
Earlier, the new YES Bank administrator Prashant Kumar had said that the moratorium imposed by the RBI could be lifted before the end of this week
The move on Yes Bank comes as the impact of the coronavirus is beginning to be felt in India, raising further risks to economic growth and non-banking finance companies' asset quality
During the hearing, the ED told the special PMLA court that Kapoor had sanctioned loans worth Rs 30,000 crore to different entities during his tenure
Among sectoral indices on the NSE, PSU banks, realty, metal and auto stocks witnessed declines while media stocks rallied
Some aides of Kapoor, former board members may be asked to join probe
Oil prices rebounded from Monday's largest percentage drop since the 1991 Gulf War, with Brent crude rising 10 per cent
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According to the data sourced from primemfdatabase.com, MFs' exposure to the AT-1 bonds - also called perpetual bonds - stood at Rs 37,687 crore as of January 31, 2020
According to a note by ICRA, the RBI move can have negative repercussions for the entire AT-1 bond market, which currently stands at around Rs 93,669 crore