Corporate Loans Did It NPR Protests to Go On
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Edition 8 Page 1_Layout 1 16-03-2020 10:41 Page 1 Volume No 20 Issue No 8 March 13, 2020 LAB JOURNAL OF THE ASIAN COLLEGE OF JOURNALISM Only foreigners Putting waste TFSA film festival tested for Corona to use in ACJ Page 2 Page 3 Page 4 NPR protests to go on PCile-oup orf pnono-perrfoarmtineg as sletos lead ton cosllap sde oif Ydes Biat nk KRATI PURWAR KEERTHI KRISHNA ted a political blame game with for - mer Finance Minister P Chidamba - The Anti-Citizenship The Yes Bank branch at Nun - ram and the present Finance (Amendment) Act protest would gambakkam was almost deserted Minister Nirmala Sitharaman ta - continue until the AIADMK with the staff not ready to talk to king jibes over each other. government passed a resolution the few customers. The bank ma - In a series of tweets, P.Chidam - against the Act in the State nager refused to permit this repor - baram asked why State Bank of Assembly, said protestors at the ter to talk to the customers and the India should invest in Yes Bank. He Washermenpet, Chennai, on staff. He said any queries about the also pointed out that the loans Tuesday. bank’s collapse and its consequen - given by Yes Bank had shot up by Also if the Government ces should be sent to the Mumbai 35 per cent in the last five years. implemented the National office of the bank. "I understand FM has made a Population Register is implemented The Reserve Bank of India took Yes Bank branch at Nungambakkam |KEERTHI KRISHNA statement blaming the UPA. That's in its present formfrom April 1, over Yes Bank which was strug - normal for a government living in people would not show their gling with a reported Rs 20,000 total deposit. “This should have a merger. It is going to be an acqui - ignorance. Does the FM know the documents, they added. crores of non-performing assets alerted RBI and Enforcement Di - sition with SBI investing 49 per numbers that I have tweeted? If she One is required to provide name, and restricted the bank’s customers rectorate” added Krishnan. cent in Yes Bank.” does, will she please explain how relationship with the household from withdrawing more than Rs Economist S Gangadharan, a “ If Yes Bank is going to fail and the loan book jumped in five years head, marital status, spouse’s name, 50,000 a day till April 3. The State professor at the Madras School of lose money then SBI will also lose from Rs 55,633 crore to Rs date and place of birth, duration of Bank of India was roped in to in - Economics, said that demonetisa - which will have significant reper - 2,41,499 crore?" stay at the current address, sex, fuse funds into the bank . tion played a major role in Yes cussions.” In another tweet, Chidambaram nationality, permanent address, women protesting at Washermenpet | KRATI PURWAR Economist C.P. Krishnan, one of Bank’s fall. “The Government According to Franco, most of the said, "SBI should take over the loan occupation, and educational the Joint Secretaries of the Bank found Rs 1 lakh crore worth cur - loans given by Yes Bank were to book of Yes Bank for one rupee, re - qualification. Palaniswami, where he resented on the streets to protest and they Employees Federation of India, rency of the old Rs 500 and Rs corporate investors. Different cover the loans, and assure the de - Earlier, Tamil Nadu Chief National Register of Citizens and were suffering for a reason, said that the main reason for the 1000 notes in possession of Rana banks work differently. The likes of positors that their money will be Minister Edappadi K. Palaniswami Home Minister Amit Shah who therefore, the government should at collapse of Yes Bank was the surge Kapoor,” he said. SBI and HDFC give lots of loans safe and will be returned." said people need not provide details affirmed that NRC would be least consider their request. of corporate loans in the private Gangadharan added that once for small amounts to many people Responding to Chidambaram of the spoken language, birthplace implemented throughout the H. Dasthageer, an auto driver, sector bank started by Rana Kapoor Yes Bank became aware of its im - but YES Bank gives large loans to through a press conference, Nirmal of parents, and details of parents’ country, Banu said she was not said that protestors were trying to and Ashok Kapur in 2004. pending failure, the owners started a few corporates. Seetharaman said, “I am not here to Aadhar cards, ration cards, and sure whom the people should trust. pressure the State government “Loans in Yes Bank have grown selling stocks. “Shares were sold at “The loans given by Yes Bank continue carrying the stories of le - voter IDs. Shamshath, a housewife, said against the NPR and if that would on an average of 35-40 percent in throwaway prices,” said Gangad - are very bad and which fall under gacy. Yes, the Indian banking sys - On March 11, the State that protest was limited to the not work out, the protest would the last 4 years. It is an astronomi - haran. The RBI should have moni - non-performing assets (NPAS). tem has had severe challenges Government said it could not pass Washermenpet area and it was in become larger. cal figure not seen anywhere in the tored Yes Bank. The NPAs of each bank are main - thanks to the way in which the go - resolution against the CAA, a the hands of the government to Nagu, a housewife, said the private sector. Loans in the public “Regular checks need to be done tained separately by both RBI and vernment which existed between Central law, in the Tamil Nadu dissolve it there or move it across Chief Minister and the Centre were sector grow around 12-13 percent so that the banks do not get a free the bank. In the case of Yes Bank, 2004 and 2014 had handled the assembly. the streets of the city. City wide not only against Muslims but also in a year while in the private sector pass from the Centre.” the two NPAs did not match.” he matter. I have reasons to put the Shehnaaz Banu, a Madras High protests might result in bloodshed against the Hindus. They are asking it is around 8-9 per cent, “added Thomas Franco, former General added. blame on them.” Court lawyer, said if Kerala and and protestors did not want that, all the communities to prove their Krishnan. Secretary of All India Bank Offi - “PMC, Lakshmi Vilas Bank and "The exposure of Yes Bank to Pondicherry could rule against the she added. citizenship on the basis of “This is not the first time it is cer's Confederation(AIBOC), felt a Karur Vysya Bank all have similar some of the very stressed corpora - NPR then so should Tamil Nadu Shamshath said people did not documents many of them do not happening in India. Punjab and merger between SBI and Yes Bank problems. PMC and LVB gave tes came before 2014,” she said. government. “Why have they want Tamil Nadu to become have. Maharashtra Co-operative Bank, would be a strain on SBI. loans to business corporates which “These are public domain become the mouthpiece of the BJP? Assam. Until Tuesday, the state Sultani Beevi, a protestor at Karnala Co-operative Bank (Pan - “Asking SBI to take over Yes they shouldn't have been allowed to names and I am not violating any Is the Centre forcing them to government used the excuse of the Washermenpet, said that the vel) and Shri Guru Raghavendra Bank when SBI itself is not doing in the first place. PMC gave loans customer privacy. Anil Ambani implement the NPR? What kind of party leader’s (former Speaker PH protestors were neither hurting Sahakara Bank (Karnataka) have well does not sound well. SBI to the Dewan group while LVB (Group), Essel Group, DHFL, the government is the AIADMK Pandian) death and Holi to delay anyone nor were they vandalizing all come under the scrutiny for their chairman publicly told he is not in gave it to a business group in IL&FS (and) Vodafone are some of that cannot come and talk to the the decision on CAA, NRC, and any public property. They would go financial problems,” said Krishnan. a position to intervene in this mat - Karur,” he said about the dwindling the very stressed corporate to protestors?” she added. NPR, she added. back only if the NPR was scrapped. He added that in all these banks the ter recently but his hand has been finances of other banks. which Yes Bank has been expo - Pointing to the contradictory Shamshat said pregnant women, “We are fighting for all Indians,” loans portfolio had exceeded the forced now. This is not going to be The Yes Bank collapse has star - sed," she said. statements of Chief Minister children, and elderly were sitting she added. Corona kills Holi festivities MEENAL VASHISTHA with a sale for Rs. 300. we’ve been given general instruc - Virus affects tourism and travel Business is equally bad for more tions in the class that we shouldn’t MARIAH DINS and Kochi has come down, even death toll increasing. I feel it is nings, according to The Hindu. Owing partly to the slow eco - prosperous vendors and street haw - play outside and avoid crowded after domestic carriers like IndiGo better to stay safe than to regret it With panic among people ri - nomy and partly to the public’s an - kers selling sweets.