Modi justifies fielding terror accused Pragya Thakur, conducting I-T raids

New Delhi, May 8: India's count of COVID-19 cases on Friday rose to 56,342 including 1,886 deaths, according to the Ministry of Health and Family Welfare.

Currently, there are 37,916 active cases while 16,539 COVID-19 positive patients have been cured/discharged and one has migrated.

Maharashtra has the highest number of cases with 18,120 followed by Gujarat with 7,013 cases and Delhi with 5,980 cases.

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.

New Delhi, May 9: Home Minister Amit Shah today tweeted to say he is healthy and not suffering from any disease, dismissing recent rumours on social media about his health. "I want to make it clear that I am completely healthy and do not suffer from any disease," the Home Minister wrote.

The 55-year-old home minister said for the last few days, some people on social media have been spreading rumours about his health. "In fact, many have tweeted even wishing for my death," he said.

मेरे स्वास्थ्य की चिंता करने वाले सभी लोगों को मेरा संदेश। pic.twitter.com/F72Xtoqmg9

— Amit Shah (@AmitShah) May 9, 2020
Mr Shah said with the country fighting the coronavirus pandemic, that has affected nearly 40,000 people and killed more than 1,900, he did not pay attention to these rumours as he was busy performing his duties as the home minister. He said he was clarifying today because lakhs of BJP workers have expressed concern over the last two days.

The Home Minister, taking a jibe at those spreading rumours, said such speculation about his health will only make him stronger. "I request people to stop indulging in such talks and let me do my work, they should also go about their business," he added.

Amit Shah thanked well-wishers and workers of the BJP for enquiring about his health. He signed off by saying he has no hatred towards those who spread the rumours.