Yes, No, Maybe Bank

The Hindu Newsletter - Yes, No, Maybe Bank Friday 06, March 2020 [alt_text]( The Evening Wrap Welcome to The Evening Wrap, your guide to the day’s major news developments with concise analysis from The Hindu. Here’s what you need to know today: Yes, No, Maybe Bank Finance Minister Nirmala Sitharaman assured all Yes Bank depositors that their money is safe and that the RBI is working on an early resolution of the issue. To bring you up to speed: The RBI on Thursday imposed a moratorium on Yes Bank, [capping withdrawals]( at ₹50,000 per account, and superseded the board of the private sector lender. In effect, Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability, or agree to disburse any payment. “I’m in continuous interaction with the Reserve Bank of India (RBI).. I want to assure every depositor that their money shall be safe. Their monies are safe,” the finance minister told reporters today. Yes Bank shareholders suffered huge losses in trade today, with the stock plunging 56% to close at ₹16.20. Meanwhile, the RBI on Friday said that SBI may invest in the private lender, with a possibility of buying upto 49% stake. The RBI also placed a draft scheme of reconstruction of Yes Bank in the public domain. COVID-19 Watch The total number of confirmed cases is now up to 31 after a man from Delhi with a travel history to Thailand and Malaysia tested positive. Reported cases are from Delhi, Rajasthan, Uttar Pradesh and Telangana. States such as Tamil Nadu, Karnataka, and Madhya Pradesh have also kept some people under quarantine. You can catch the latest developments on this story with our [live page](. Here are some important developments of the day: A 13-member group of tourists from Iran has been quarantined at a hotel in Amritsar, and asked not to go out till their medical examination is completed, an official said. They reached Amritsar on Thursday night. The Indian Army on Friday said it will set up quarantine facilities for 1,500 personnel at certain locations in the country. The WHO has issued a call of action to all countries to help push this virus back. The latest figures cited by the U.N. body show that there are about 17 times as many new infections outside China as in it. The virus has infected nearly 98,000 people and killed over 3,300. The Health Ministry on Friday advised that mass gatherings should be avoided and postponed till the spread of COVID-19 is contained. Tamil Nadu is planning to establish full-fledged quarantine facilities for persons suspected to have COVID-19 on the outskirts of Chennai and Madurai. Delaying Tactic A day after the Supreme Court made it clear that any delay in the execution of the Nirbhaya gang rape convicts on March 20 would see it step in, Mukesh Singh, one of the convicts, has moved a plea in the apex court seeking restoration of all his legal remedies. He alleged that his lawyers had misled him. The plea, filed through advocate M. L. Sharma, sought a CBI probe into alleged “criminal conspiracy” and “fraud” hatched by the Centre, Delhi government, and advocate Vrinda Grover, who is the amicus curiae in the case. All four convicts have exhausted their options for legal remedies -- a curative petition and a mercy plea to the President of India. In fact, the top court’s assurance that it would intervene in the matter came after the government said the chances of one of the convicts turning up with a new petition to further delay the execution were high. Public Display The U.P. government is pressing on with a relentless drive to recover damages from protesters allegedly accused of violence during protests against the Citizenship (Amendment) Act in December. Our correspondent Omar Rashid reports that the police have put up several hoardings across Lucknow, identifying the accused. The hoardings list the names, photographs, and residential addresses of the accused, and ask them to pay for the damage to public and private property within a stipulated time or have their properties seized by the district administration. The total damage listed in the hoardings amount to ₹1.55 crore. In Brief: The Aam Aadmi Party (AAP) government will launch a two-day mega drive from tomorrow for release of compensation to victims of the communal violence that took place in Delhi last week. The government has so far received around 1,700 compensation forms. Gunmen attacked a ceremony in Kabul on Friday, killing at least 27 people in the first major attack on the Afghan capital since the [United States reached an agreement with the TalibanÂ](to withdraw U.S. troops. World oil prices, already falling over coronavirus fears, extended losses to more than 5% on Friday following reports that Russia wants to delay deeper output cuts recommended by its OPEC allies. That’s it for this edition of The Evening Wrap. We’ll see you on Monday. You are receiving this email because you are a user of [thehindu.com]( If you do not wish to receive any such emails, [unsubscribe here.](mailto:rm-0b4dcwhtbf2f90kauhqqkhbysa8hk3f@newsalert.thehindu.com?subject=Unsubscribe&body=You will be unsubscribed from our mailing list.) To ensure you continue to receive emails from The Hindu in your inbox, please add newsletters.th@newsalert.thehindu.com to your contact. If you can't see the mailer, please [click here.]( Group Sites [The Hindu]( | [இந்து தமிழ் திசை]( | [Business Line]( | [BL on Campus]( | [Sportstar]( | [Frontline]( | [The Hindu Centre]( | [Images]( | [roofandfloor]( | [Classifieds]( Copyright @ 2019, THG PUBLISHING PVT LTD. [About Us]( | [Contact Us]( | [Subscription](