About: http://data.cimple.eu/news-article/0613487bc965da74f8b2074a73e2640aeca4fa7672b131cd7f6d9162

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About: http://data.cimple.eu/news-article/0613487bc965da74f8b2074a73e2640aeca4fa7672b131cd7f6d9162 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Shares in India's fourth-largest private lender Yes Bank plunged more than 70 percent on Friday after the central bank seized control and imposed withdrawal limits. Queues formed outside Yes Bank branches after the announcement late Thursday that customers can only withdraw 50,000 rupees ($678) over the next 30 days. India has been grappling with a liquidity crunch caused by the near-collapse more than a year ago of IL&FS, one of the nation's biggest shadow banks -- finance houses responsible for significant consumer lending. Yes Bank has been particularly badly hit as it struggles under a mountain of bad loans. Its weakened position was "largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades", the Reserve Bank of India, said Thursday. "The bank has also experienced serious governance issues and practices in the recent years, which have led to a steady decline of the bank," it added but said there was "no need to panic". "It's not clear at the moment and that is making some people panic a bit. Even I am at the moment," Devika, a student and Yes Bank account holder, told AFP as she queued to withdraw money in New Delhi. By midday in Mumbai (0630 GMT), Yes Bank shares had recovered slightly but were still down 61 percent at 14.30 rupees. stu-bb/dan
schema:headline	Shares in India's Yes Bank plunge over 70% on withdrawal limits
schema:mentions	Yes Bank Agence France-Presse 30 Days (TV series) New Delhi Mumbai India Devika Infrastructure Leasing & Financial Services Shadow banking system Credit Grappling Market liquidity Greenwich Mean Time
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-06 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	80 (xsd:integer)

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