RTI appeal hearing may take 30 years in Assam, 11 years in West Bengal

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

New Delhi, Mar 27: Cabinet Secretary Rajiv Gauba has asked states to urgently strengthen the surveillance of international travellers who entered the country before the lockdown as there appeared to be a "gap" between the actual monitoring for COVID-19 and the total arrivals.

In a letter to chief secretaries of all States and Union Territories, Gauba said such a gap in monitoring of international passengers for coronavirus "may seriously jeopardise the efforts to contain the spread of COVID-19", given that many amongst the persons who have tested positive so far in India have history of international travel.

"As you are aware, we initiated screening of international incoming passengers at the airports with effect from January 18, 2020. I have been informed that up to March 23, 2020, cumulatively, Bureau Of Immigration has shared details of more than 15 lakh incoming international passengers with the States/UTs for monitoring for COVID-19.

"However, there appears to be a gap between the number of international passengers who need to be monitored by the States/UTs and the actual number of passengers being monitored," Gauba said in his letter.

The government had started monitoring of all international passengers who have arrived in India in last two months in the wake of the coronavirus outbreak.

Gauba said,"it is important that all international passengers are put under close surveillance to prevent the spread of the epidemic."

He said the Ministry of Health and Family Welfare (MoHFW) has repeatedly emphasised the importance of monitoring, and requested the states and UTs to take immediate steps in this regard.

"I would, therefore, like to request you to ensure that concerted and sustained action is taken urgently to put such passengers under surveillance immediately as per MoHFW guidelines," he said.

The cabinet secretary also urged the chief secretaries to actively involve the district authorities in this effort.The screening of international incoming passengers at airports was done from January 18 in a phased manner.

The Central and state governments have unleashed unprecedented and extraordinary measures to contain the spread of the fast-spreading coronavirus, which has already infected more than 700 people in the country and claimed at least 17 lives.

A nationwide lockdown was also announced by Prime Minister Narendra Modi on Tuesday for 21 days.

Jaipur, Mar 11: A 85-year-old man in Jaipur, who had returned from Dubai on February 28, has tested positive for coronavirus, a state government official said on Wednesday.

He was found presumptive positive in the first test on Tuesday and hence, a second test was conducted with fresh samples, the reports of which arrived late Tuesday night, Additional Chief Secretary, Medical and Health, Rohit Kumar Singh, said.

“The man who travelled to Dubai has been tested positive for coronavirus. It has been confirmed now,” Singh said.

“We have also got the manifest of the Spicejet flight he took from Dubai to Jaipur and are doing due diligence on that,” the official said, adding that intense contact tracing was underway.

The man has been kept in isolation at the SMS Hospital here.

“The man came to the hospital on Monday with symptoms of the virus. After the first test, his wife and son too have been kept in isolation at the hospital. The two, however, do not have coronavirus affliction symptoms,” Singh said.

A total of 235 people who came in contact with the octogenarian and his family have already been traced and are being monitored, he said.

Other contacts are also being traced, Singh added.

An Italian couple, who tested positive for COVID-19 last week, are also admitted in the hospital but their condition is improving, he said.