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Mumbai, Jan 9: Former India all-rounder Irfan Pathan feels that the Men in Blue have the edge over Australia in terms of talent and confidence ahead of the two teams' three-match ODI series starting January 14 in Mumbai.

"In the past that wasn't the case because they were doing really well. We were trying to match that level. I feel that Indian cricket is a notch ahead in terms of talent, in terms of cricket and in terms of confidence," Star Sports expert Irfan Pathan said. "The only thing that will make it equal is the kind of pitches we are going to play in Australia because we do not have experience playing on those hard and bouncy pitches," said Pathan, who recently called time on his international career.

Recounting his favourite memory of playing against Australia, Irfan said, "It all started in Australia for me. The most memorable moment was getting my first wicket and helping India win a Test match in Australia after 21 years. Winning the Test in Perth and being named the Man of the Match is also a favourite memory for me."

Australia have already announced their team for the three-match ODI series with India. The team will be led by Aaron Finch. The other members of the team are Ashton Agar, Alex Carey, Pat Cummins, Peter Handscomb, Josh Hazlewood, Marnus Labuschagne, Kane Richardson, D'Arcy Short, Steve Smith, Mitchell Starc, Ashton Turner, David Warner, and Adam Zampa.

India are yet to announce their team but in all probability, it will be led by Virat Kohli who has been in phenomenal form over the last few years. All three ODIs are day and night affair. While the first match of the series is on January 14 in Mumbai, the second will be played at Rajkot on January 17 followed by the January 19 clash in Bengaluru.

Jan 20: Both Steve Smith and Rohit Sharma made sparkling centuries in Bengaluru, but it was the Indian who finished on the winning side, leading his team to a 2-1 series win.

Smith, having run out his captain Aaron Finch early on, dug in to bring up his ninth ODI century, his 131 off 132 balls setting India a target of 287 on Sunday, 19 January. Continuing the dazzling display of batting at the M Chinnaswamy stadium, Rohit struck 119 in 128 balls, and skipper Virat Kohli chipped in with 89, as the hosts chased down the target with seven wickets to spare in 47.3 overs.

With Shikhar Dhawan hurting his shoulder in the fifth over of the day and sidelined for the rest of the match, Rohit was reunited with KL Rahul – who had a chance to open the innings after coming in at No.3 and No.5 in the first two matches, while also standing in as wicket-keeper. The vice-captain was on the ball right away, dominating the scoring as India raced to 61/0 in the first 10 overs.

The introduction of spin gave Australia a vital breakthrough: Ashton Agar trapped Rahul in front on review, and although the new pair of Rohit and Kohli weren't unduly troubled, the run-rate slowed down. Josh Hazlewood, playing his first ODI in India and his first match in the format in 14 months, was especially miserly, conceding just 10 runs in his first five overs.

But, having settled in, the duo built a useful partnership of 137 and gave themselves the chance to hit out with wickets in hand. The part-time bowling of Finch and Marnus Labuschagne was punished, Rohit lapping up the short balls and sending them soaring into the stands. His century, his eighth against Australia, came with a single to third man.

Zampa finally got the breakthrough, having him caught in the deep going for another big one. But with Kohli having loosened his arms with a couple of beautiful fours off Pat Cummins to go past his half-century, India remained on course.

The skipper missed out on a hundred, but with Shreyas Iyer too clearing the ropes, there were no hurdles as India wrapped up an entertaining series win.

Earlier, the Indian bowlers struggled to find their lines after Australia chose to bat, but Australia weren't able to fully capitalise. David Warner was thrown by the movement to nick Mohammed Shami to the wicket-keeper, while Finch was caught short after Smith pulled out of a run, to leave the hosts at 46/2.

Labuschagne and Smith, though, combined for another special partnership, going at a brisk rate and showing delectable timing against spin. They had guided their side to 173 in the 32nd over when the a sharp piece of fielding from the home captain and strong bowling pulled things back.

Kohli, at cover, plucked a drive from Labuschagne soon after the batsman had reached his maiden fifty. Ravindra Jadeja had his second of the over when the experiment to send Mitchell Starc at No.5 lasted just three balls.

Alex Carey gave Smith company as he brought up a well-earned century, having fallen just short the previous game. The former skipper stepped up the scoring once he crossed three figures, a wristy helicopter six over deep square leg the highlight of his innings. But, excellent death bowling by Shami, who finished with four wickets, ensured the tourists were kept to under 300 – a total that proved below par.

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.