Former State Bank of India Chief financial officer Prashant Kumar has become the administrator after Reserve Bank of India overtakes Yes Bank after dissolving its board.

WION Wallet: RBI took-over control of Bad loan-burdened Yes Bank | Yes Bank Crisis

A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday. The central bank added that SBI is already willing in picking up a stake in Yes Bank.

Potential investor will have to pick up 49% stake in Yes Bank; SBI shown willingness: RBI

Yes Bank, India’s fifth-largest private sector lender, was placed under a moratorium with the Reserve Bank of India (RBI) taking over from its board for 30 days and imposing limits on withdrawals to protect depositors. The central bank said, was necessary because of a serious deterioration in Yes Bank’s financial position and that it would swiftly work on a revival plan.

Government places Yes Bank placed under moratorium

The Reserve Bank of India’s has decided to put a moratorium on Yes Bank on Thursday for a period of thirty days. Withdrawals by depositors have been restricted, and mutual funds have begun writing off the value of the Yes Bank debt securities they hold. Watch report:

WION Wallet: RBI moves to restructure YES Bank by placing it under moratorium | Yes Bank Moratorium

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender.

Shares in India's Yes Bank crash on withdrawal limits

Yes Bank has been placed under "moratorium" with the Reserve Bank of India(RBI) capping depositor withdrawals at Rs 50,000 per account for a month. Also Read: Board member at Yes Bank quits, cites governance concerns "The Reserve Bank came to the conclusion that in the absence of a credible revival plan, and in public interest and the interest of the bank's depositors, it had no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949," the RBI said in a statement.

RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000

According to the National Statistical Office (NSO), India's Gross Domestic Product(GDP) slipped to 4.7 per cent in October-December 2019. Also Read: India, China to account for nearly 35% of global GDP in 2060 India's GDP was 5.

India's GDP growth slips to 4.7% in December quarter

Shares, boosted by state-owned banking stocks, ended higher for the fourth straight session on Thursday, as Reserve Bank of India (RBI) kept rates steady and left the door open for more monetary easing.

Sensex, Nifty end higher as RBI keeps rates steady

The Supreme Court on Tuesday reserved its order on pleas challenging a Reserve Bank of India (RBI) decision, which barred banking services from dealing in any transaction linked with cryptocurrency.

Supreme Court reserves order on plea challenging RBI's ban on cryptocurrency

Monetary policy has its limits and the Indian government will have to use fiscal measures and structural reforms to revive demand and support the sagging economy, Reserve Bank of India governor Shaktikanta Das said in a speech on Friday.

Government must continue reforms, announce fiscal measures: RBI chief Shaktikanta Das

The Reserve Bank of India's move to widen its third special open market operation (OMO) helped bonds rise on Friday but worries over a likely fiscal slippage and a surge in global crude prices capped the gains.

Indian bonds gain as India's central bank, RBI, widens third special Open Market Operation

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported.

India's financial system stable despite weakening domestic growth: RBI

Indian shares pared early gains to end lower on Thursday after the Reserve Bank of India (RBI) kept its policy rate unchanged, surprising investors who were expecting at least a 25 basis-point cut.

Nifty closes at 12018, Sensex down 0.17 per cent

The Reserve Bank of India (RBI) kept its key lending rate on hold in a surprise decision on Thursday, despite a worrying slowdown in the country that prompted the central bank to sharply reduce its economic growth forecast to 5 per cent for the year through March.

RBI keeps rates on hold despite economy fears

Indian shares pared early gains to trade lower on Thursday after the country's central bank kept its policy rate unchanged, surprising investors who were expecting at least a 25 basis-point cut.

Nifty, Sensex slip after RBI surprises by steady holding rates

The Reserve Bank of India (RBI) has filed an application to initiate insolvency proceedings against mortgage lender Dewan Housing Finance Ltd (DHFL). The application was filed with Mumbai bench of the National Company Law Tribunal (NCLT).

RBI files application for bankruptcy proceedings against DHFL

The government wants the Reserve Bank of India to set up a fund to buy out stressed assets of the country's top 25 shadow lenders and revive the financial sector, a government source told reporters on Thursday.

Government wants RBI to buy out stressed assets of shadow banks: Report

India's central bank said on Wednesday it would initiate bankruptcy proceedings against Dewan Housing Finance Ltd (DHFL), as it seeks to address governance concerns and defaults at what was once one of the country's biggest shadow lenders.

RBI to begin bankruptcy proceedings against shadow lender DHFL

Indian retail inflation probably exceeded the Reserve Bank of India's ( RBI) medium-term target of 4 per cent in October for the first time in 15 months, mainly because of rising vegetable prices, a Reuters poll of economists showed.

India's inflation probably breached RBI target last month: Poll

Summarising The Legacy & Structural Problems In Indian Bureaucracy.

Gravitas: Indian bureaucrats: growth enablers or roadblocks?

Government Announces A Major Move To Revive India's Real Estate Sector.

Gravitas: Rs. 25,000 cr alternate fund for stalled housing projects

Finance Minister Nirmala Sitharaman on Wednesday announced that the Union Cabinet had approved a Rs 25,000-crore fund for stalled middle and low-income housing projects. The government plans to give a boost to the housing market to revive over 1600 stalled housing projects covering 4.58 lakh units.

Indian govt announces funds to boost the housing sector

RBI's Report & S&P's Note Highlights Risks To Economy Even As Ease Of Doing Business Improves.

Gravitas: India: Ease Of Doing Business Ranking Jumps, But Economy Faces Risks

So, it's all good to blame the system and live in denial, the most important question is - what should be done to resolve the crisis in the PMC Bank? Whatever the government does now, will amount to only damage control.

WION Edit: PMC bank scam - transparency in banking sector must be improved

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