Union Finance Minister Nirmala Sitharaman said on Friday that no depositor will be affected adversely by the curbs the Reserve Bank of India has imposed on Yes Bank. The central bank on Thursday imposed a moratorium on cash-strapped Yes Bank, and restricted withdrawals at Rs 50,000 for each account.
Indian markets dipped more than 3% in early trade on Friday as scare over the novel coronavirus outbreak, and the crisis in cash-strapped Yes Bank prevailed on Friday. The BSE Sensex nosedived 1,459.52 points to 37,011.09 in the opening session, while the National Stock Exchange Nifty tanked 362.30 points to 10,906.70. At 1 pm, the Sensex was trading 1,036.24 points lower at 37,434.37. The Nifty was trading 319.40 points lower at 10,949.60.
Iran’s Supreme Leader Ayatollah Ali Khamenei on Thursday criticised India for the communal violence in Delhi that claimed at least 53 lives, and urged the Indian administration to “stop the massacre of Muslims” and “confront extremist Hindus”.
At least 13 people were killed and five seriously injured on Friday after an SUV collided with a car that had crashed into a road divider near Kunigal in Tumakuru district of Karnataka. Of the victims who died in the accident, two were children.
The Centre on Friday appointed former Indian Administrative Service officer Bimal Julka as the new chief information commissioner, PTI reported. President Ram Nath Kovind administered the oath of office to Julka at a ceremony held at the Rashtrapati Bhavan in the national Capital.
Congress leader Rahul Gandhi on Friday hit out at the government over the crisis at Yes Bank, alleging that Prime Minister Narendra Modi has destroyed India’s economy. “No Yes Bank. Modi and his ideas have destroyed India’s economy,” he wrote on Twitter.
The Supreme Court on Friday said it will not issue a contempt notice against activist Harsh Mander on allegations that he instigated a crowd against the top court during an anti-Citizenship Act protest, PTI reported. The top court, while asking Mander to respond to the allegations of hate speech against him, adjourned the case to April 15.
The Delhi High Court on Friday listed the pleas on violence in North East Delhi and hate speech by political leaders for hearing on March 12, PTI reported.
Proceedings in the Lok Sabha were disrupted for the fifth consecutive day on Friday as Opposition members shouted slogans against last week’s communal violence in North East Delhi, which has killed at least 53 people. Proceedings lasted for only two minutes, following which commotion began.
Union Finance Minister Nirmala Sitharaman on Friday assured the public that no depositor will incur a loss because of the moratorium imposed on Yes Bank, NDTV reported. Addressing the media in the national Capital, Sitharaman said, “The Reserve Bank of India Governor has assured me there will be no loss to any Yes Bank depositor. Your money is safe.”
National Security Advisor Ajit Doval on Thursday said that the police are the enforcers of the law and a “democracy fails if they fail”. His remarks came after 53 people died in large-scale communal violence in parts of Delhi between February 23 and 26, raising questions about the effectiveness of the police in responding to the situation.
The Calcutta High Court on Thursday stayed the Centre’s notice asking a Polish student, whose visa was cancelled, to leave India for participating in a protest against the Citizenship Amendment Act. In his petition before the High Court, Kamil Siedczynski on Wednesday sought a restraining order against the Centre and a recall of its order.
The Uttar Pradesh administration on Thursday put up hoardings at several places in Lucknow city showing the photos, names and addresses of 53 people, who have been accused of indulging in violence during the Citizenship Act protests in December.
Former Prime Minister Manmohan Singh on Friday said India faces imminent danger from the trinity of social disharmony, economic slowdown and a global health epidemic. In an opinion article published by The Hindu, the former prime minister said the combination of risks may not only rupture the “soul of India” but also diminish its global standing as an economic and democratic power.
Indian stock markets plunged over 3% in opening trade on Friday amid continued fears over the novel coronavirus outbreak and the crisis in cash-strapped Yes Bank. The number of novel coronavirus cases across the globe rose to 97,510 as of Thursday night. Across the 85 countries with infections so far, 3,345 people have died. There are 30 infections so far in India.
Chief Executive Officer of Prasar Bharti Shashi Shekhar Vempati has declined an invitation to attend an event hosted by the BBC, citing the British broadcaster’s singularly one-sided coverage of the communal violence in Delhi. Vempati had been invited for the BBC Indian Sportswomen of the Year Awards Night to be held in the national Capital on March 8.
The number of novel coronavirus cases across the globe rose to 97,510 as of Thursday night. Across the 85 countries with infections so far, 3,345 people have died. This includes the first death in the United Kingdom and Switzerland. UK officials said the victim was an elderly patient with underlying health conditions. The victim in Switzerland was also in their 70s and had suffered a chronic health problem.
The board of the State Bank of India has given an in-principle approval to the lender to explore opportunities to invest in Yes Bank. The decision was taken at a meeting on Thursday, the bank said.
The Bombay Bar Association on Thursday condemned Supreme Court Justice Arun Mishra’s praise for Prime Minister Narendra Modi at an event last month. “This Association deprecates the conduct of a sitting judge of the Supreme Court of India making such obsequious remarks about the head of the Executive, and believes that they are both improper and unnecessary,” a resolution passed by the Bombay Bar Association said.
Iran’s supreme leader Ayatollah Ali Khamenei, in a strongly-worded statement, on Thursday urged the Indian administration to “stop the massacre of Muslims” and “confront extremist Hindus”. India has been on the receiving end of censure from several foreign countries and organisations over the Citizenship Amendment Act that triggered communal violence in parts of Delhi last week, claiming at least 53 lives.