Cleric arrested with live bullet at Arvind Kejriwal's residence

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

Washington, Jun 11: Observing that historically India has been a tolerant, respectful country for all religions, a top Trump administration official has said the US is "very concerned" about what is happening in India over religious freedom.

The comments by Samuel Brownback, Ambassador-At-Large for International Religious Freedom, came hours after the release of the "2019 International Religious Freedom Report" on Wednesday.

Mandated by the US Congress, the report documenting major instances of violation of religious freedom across the world was released by Secretary of State Mike Pompeo at the State Department.

India has previously rejected the US religious freedom report, saying it sees no locus standi for a foreign government to pronounce on the state of its citizens' constitutionally protected rights.

"We do remain very concerned about what's taking place in India. It's historically just been a very tolerant, respectful country of religions, of all religions," Mr Brownback said during a phone call with foreign journalists on Wednesday.

The trend lines have been troubling in India because it is such a religious subcontinent and seeing a lot more communal violence, Mr Brownback said. "We're seeing a lot more difficulty. I think really they need to have a - I would hope they would have an - interfaith dialogue starting to get developed at a very high level in India, and then also deal with the specific issues that we identified as well," he said.

"It really needs a lot more effort on this topic in India, and my concern is, too, that if those efforts are not put forward, you're going to see a growth in violence and increased difficulty within the society writ large," said the top American diplomat.

Responding to a question, Mr Brownback said he hoped minority faiths are not blamed for the COVID-19 spread and that they would have access to healthcare amid the crisis.

Prime Minister Narendra Modi has criticised any form of discrimination, saying the COVID-19 pandemic affects everyone equally. "COVID-19 does not see race, religion, colour, caste, creed, language or border before striking. Our response and conduct thereafter should attach primacy to unity and brotherhood," PM Modi said in a post on LinkedIn in February.

The government, while previously rejecting the US religious freedom report, had said: "India is proud of its secular credentials, its status as the largest democracy and a pluralistic society with a longstanding commitment to tolerance and inclusion".

"The Indian Constitution guarantees fundamental rights to all its citizens, including its minority communities… We see no locus standi for a foreign entity/government to pronounce on the state of our citizens' constitutionally protected rights," the Foreign Ministry said in June last year.

According to the Home Ministry, 7,484 incidents of communal violence took place between 2008 and 2017, in which more than 1,100 people were killed.

Thiruvananthapuram, Apr 27: BJP's Kerala state President K Surendran on Monday said it is 'highly irresponsible' of Chief Minister Pinarayi Vijayan to not attend PM's video conference with all chief ministers on prevailing COVID-19 situation earlier today.

"The Kerala Chief Minister not attending the important conference regarding a pandemic in the country is not good for the state," Surendran said.

The BJP state President believes Vijayan has sent a wrong message by not attending the conference.

"It is the irresponsible behavior of the Chief Minister. Prime Minister Narendra Modi says that team India is fighting this pandemic together. By not attending the meeting, the Kerala CM has sent a wrong message, " he added.

Surendran said that the meeting was of high priority as PM was meeting the state CM's regarding the important decision of lockdown in the country.

"From the last meeting, many things have changed. Other chief ministers who did not get a chance to speak, participated in the meeting. But Kerala CM chose not to attend the meeting and BJP condemns it, " he said.

Kerala CM Pinarayi Vijayan had not participated in the PM's video conference held earlier today and instead Kerala Chief Secretary Tom Jose represented the state in the meet.

According to sources, Kerala has given its suggestions in writing.

This was the fourth such interaction of the Prime Minister with the Chief Ministers, the earlier ones had been held on March 20, April 2, and April 11.

PM Modi in the meeting said the lockdown has yielded positive results as the country has managed to save thousands of lives in the past one and a half months.