Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of the coronavirus pandemic on the economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing...

-The Hindu RBI told banks that they could shift the repayment schedule for loans and the residual tenor across the board by three months after the moratorium period. Banks which give borrowers a three-month moratorium on repayment of loans will continue to charge interest on the outstanding portion of the loans during this window period, the Reserve Bank of India clarified on Friday evening. The 3-month moratorium on repayment of loans - including...

-The Indian Express In 2004, a former bank executive started his own bank. As it grew, courting corporates, lending aggressively and dodging referees, the bad loans grew too. Until one day, the bank went belly up. The Indian Express on how the story of Yes Bank and Rana Kapoor is of warning bells that went unheard. After providing services to Yes Bank for years, a vendor was keen to terminate the contract....

-The Hindu It is only part of mismanagement of financial institutions under BJP government watch, says ex-Finance Minister The government and the RBI didn’t bother to read the balance sheet of the Yes Bank, former Finance Minister P. Chidambaram said pointing out to the unusual growth in the loan book at the rate of 35% a year between March 2014 to March 2019. The loan book registered registered a spike especially in 2016-17...

-The Indian Express Capping withdrawals for Yes Bank depositors is foolish for two specific reasons, particularly when the economy is floundering with growth rates of around 5%. On March 5, the RBI imposed a cap of Rs 50,000 on withdrawals by Yes Bank depositors. A day later, Finance Minister Nirmala Sitharaman assured depositors that their money was safe. In the days and weeks running up to the RBI decision to supersede the Yes...