Whenever Modi’s popularity declines, news of his assassination plot is ‘planted’: Nirupam

Mumbai, Mar 9: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.

"There is absolutely no question of a merger," Prashant Kumar, the administrator, told the CNBC TV18 channel.

The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender - which is laden with bad debts - failed to raise the capital it needs to stay above mandated regulatory requirements.

Placing Yes Bank under a 30-day moratorium, the central bank imposed limits on withdrawals to protect depositors and said it would work on a revival plan. The move spooked depositors, who rushed to withdraw funds from the bank.

Kumar, a former finance chief at SBI, assured depositors their money was safe and that the moratorium on Yes Bank might be lifted much before the deadline on April 3 and normal banking operations might resume as early as Friday.

He also mentioned that the withdrawal limit of Yes Bank may be removed by March 15, 2020.

SBI Chairman Rajnish Kumar said on Saturday the state-run bank would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank as part of the initial phase of the rescue deal, adding that the survival of troubled lender was a "must".

Jaipur, July 13: Amid a deepening political crisis in Rajasthan where the number 2 leader of the Congress party Sachin Pilot has revolted, over 200 Income Tax (I-T) sleuths raided the residences and properties of two of Chief Minister Ashok Gehlot’s close confidants.

The Income Tax department has carried out searches at over a dozen locations linked to Congress leader Dharamender Rathore as well as jewellery firm owner Rajiv Arora, both of whom are considered close to Gehlot.

Officials said that the raids that are underway in Jaipur, Kota, Delhi, and Mumbai were done after a complaint of tax evasion was made. Under the scanner, they said, are transactions that were made outside the country.

The curious timing of the Income Tax department’s action against Gehlot’s aides has made the Congress accuse the sleuths of acting on the behest of the BJP.

Congress spokesperson Randeep Singh Surjewala tweeted: “After all, BJP's lawyers came on the field. The Income Tax Department started raids in Jaipur. When will ED arrive?”

The Congress is facing a cliffhanger in Rajasthan after the open rebellion by deputy chief minister Sachin Pilot, who on Sunday night claimed that he had the support of 30 MLAs and that Gehlot was leading a minority government in the state.

However, Congress leader Avinash Pande on Monday said 109 MLAs have signed a letter of support to the chief minister, well above the majority mark of 100. The party has issued a whip to all the MLAs, asking them to attend the Congress Legislature Party meeting at 10.30 am. 

New Delhi, Jun 27: Prime Minister Narendra Modi on Saturday said that India fared much better compared to some other countries in the fight against the COVID-19 pandemic. The PM made this observation while delivering the inaugural address to mark the 90th birth anniversary celebrations of Reverend Dr Joseph Mar Thoma Metropolitan.

"Earlier this year, some people had predicted that the impact of the virus in India would be very severe. Due to lockdown, many initiatives have been taken by the Government and in this people-driven fight, India is much better placed than many other nations. India's recovery rate is rising," Modi said in his virtual address.

He further warned that the time was not apt to "let our guard down".

The prime minister greeted the Mar Thoma Metropolitan and wished him a "long life and best health."

"Dr Joseph Mar Thoma has devoted his life for the betterment of our society and nation. He has been particularly passionate about the removal of poverty and women empowerment," the prime minister said.

Praising the Mar Thoma Church for its contributions to the country the Prime Minister added that it has worked to bring a positive difference in the lives of people in the country in areas of healthcare and education.

"The Mar Thoma Church is closely linked with the noble ideals of Saint Thomas, the Apostle of Lord Christ. India has always been open to spiritual influences from many sources. It is with this spirit of humility that the Mar Thoma Church has worked to bring a positive difference in the lives of our fellow Indians," Modi said.

Followers of the Mar Thoma Church from India and abroad participated in the programme through video conference.