Moody's has also downgraded the bank's long-term foreign and local currency bank deposit ratings.
From Air India's disinvestment plan to YES Bank's stock crash, here are the top stories for the day
The draft comes a day after the RBI imposed a moratorium on the bank, restricting withdrawals to Rs 50,000 per depositor till April 3
On finding risky credit decisions, the RBI advised change in management, the Finance Minister said
The bank's board has been superseded by RBI-appointed administrator Prashant Kumar, former deputy managing director and chief financial officer of SBI
In addition, the fund house has imposed a limit of Rs 2 lakh on fresh inflows into the impacted schemes till further notice, Nippon India MF said in a statement.
On a weekly basis, Sensex dropped 1.8 per cent while Nifty lost 1.89 per cent
On the sectoral front, PSU banks and FMCG stocks made decent gains while realty, metal. and media counters suffered losses
All that happened in markets today
Companies that failed to repay their loans to YES Bank include Dewan Housing Finance, Essel group, CG Power, the Anil Ambani group companies, and Videocon
As many as 32 mutual fund schemes have exposure to bank's AT-1 bonds
Instructions to the effect have been issued by Chief Minister Uddhav Thackeray to the concerned departments
"This will surely not be a rescue plan. You will get to know when the scheme is out," a top SBI executive who did not wish to be named said, hinting that SBI might not take over YES Bank
RBI has assured there will be a quick resolution, says FM, even as RBI Governor promises resolution in 30 days; SBI Chairman Rajnish Kumar says problem at hand is lender-specific, not sectoral
She added that the people can withdraw money to deal with tough situations and the cash crunch is being dealt with
It can be noted that the bank's own net banking facilities have not been operational since last evening
A rescue plan involving SBI and Life Insurance Corporation of India was being discussed and an announcement in this regard might be made soon
YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list.
Prashant Kumar taking charge as the Yes Bank administrator is in line with notifications issued by Department of Financial Services and the RBI
The RBI governor also said that the impact of Covid-19 on India will be limited