At poll rally, Yogi calls Indian Army 'Modi ji ki sena'

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".

New Delhi, June 16: Tensions along the Line of Control border between India and China have spiked with an Indian army officer and two soldiers killed in the Galwan area of Ladakh, the Indian army said in a statement on Tuesday.

This is the first time in decades that a clash involving casualties has taken place on the 3,488 kilometre border between India and China.

"During the de-escalation process underway in the Galwan Valley, a violent face-off took place yesterday night with casualties. The loss of lives on the Indian side includes an officer and two soldiers. Senior military officials of the two sides are currently meeting at the venue to defuse the situation," said an official statement.

The two sides had made headway in talks last week with army chief General MM Naravane saying disengagement was in progress. The development had come after weeks of tension, including an incident in which patrolling soldiers from the two sides came to blows on the banks of Pangong Lake, resulting in injuries.

The two armies have since thinned out some forces in a positive signal but soldiers, tanks and other armoured carriers remained heavily deployed in the high-altitude region, an official had said.

India and China fought a brief border war in 1962 and have not been able to settle their border despite two decades of talks. Both claim thousands of kilometres of territory and patrols along the undemarcated Line of Actual Control - the de-facto border - often run into each other, leading to tensions. 

New Delhi, Jan 1: Newly-appointed Chief of the Defence Staff General Bipin Rawat on Wednesday said the armed forces stay away from politics and work as per the directives of the government of the day, remarks that come amid allegations that the forces were being politicised.

Gen Rawat also said that his focus as CDS will be to integrate the efforts of the three services and to work as a team.

"We keep ourselves away from politics. We act according to the directives of the government of the day," he said.

Gen Rawat said his focus will be to ensure best and optimal use of resources allocated to the three services.