Indian YES Bank Defaults ! Millions of People Affected.

[BHarwana]

Now just imagine that you have 10-Crore in the bank but you are allowed to only withdraw Rs 50,000 a month until the mess is cleaned up!! There is a banking crisis already underway in India and unfortunately only the poor will suffer.

@BHarwana missing in action.

No not missing in action bro. I told them this years ago that their economic bubble was about to burst but they never listened. India economy was placed on steroids to attract foreign investments but was artificially shown as growing. Many economists when projecting growth don't count the debt problem as if you count debt then there is no growth. India had increase in unemployment how can there be growth if unemployment is increasing. I mean Indian economy showed it was growing faster than Germany but such growth should also facilitate employment if that is not happening then it means there is no growth and. Some factor is canceling your growth which you are over looking and in indias case it was debt.

 

[CrazyZ]

The sugar high is wearing off. The tide is receding and the people swimming naked are being exposed. Debt bubbles are the number cause for economic crisis's.

 

[SABRE]

This is actually a good news for Modi (only downside is accnt holders may face inconvenience for a few months) as govt is going to accquire this bank at dirt cheap prices so Modi govt gets a bank with $30 billion assets at a very cheap rate which will give handsome dividends to govt in medium term.

And this ha sbeen acheived without having to fire a single employee as FM Sitharaman confirmed just now.

Do Ambanis have a bank? Will/can they takeover/acquire the assets of this one?

 

[CrazyZ]

Do Ambanis have a bank? Will/can they takeover/acquire the assets of this one?

I think it's part of Reliance group.

 

[pikkuboss]

No action taken for tempering with thread title. This bank can't default. It's impossible. I will be acquired by SBI. I invested 20k today at this bank's shares. Expecting it to double within a month.

 

[CrazyZ]

No action taken for tempering with thread title. This bank can't default. It's impossible. I will be acquired by SBI. I invested 20k today at this bank's shares. Expecting it to double within a month.

Trading in this stock should be suspended since the firm has no true equity left just like lehmen brothers and should be liquided. Allowing continued trading of yes bank is a fraud by the Indian stock market.

 

[pikkuboss]

Trading in this stock should be suspended since the firm has no true equity left just like lehmen brothers and should be liquided. Allowing continued trading of yes bank is a fraud by the Indian stock market.

Who told you that this bank defaulted? Don't believe in tampered thread titles on PDF. This is one of biggest banks in India and technologically advanced than other banks. Most online businesses are run using this bank. It's shares will be bought by state bank of India next week and it will be business as usual.

 

[Arulmozhi Varman]

This is actually a good news for Modi (only downside is accnt holders may face inconvenience for a few months) as govt is going to accquire this bank at dirt cheap prices so Modi govt gets a bank with $30 billion assets at a very cheap rate which will give handsome dividends to govt in medium term.

And this ha sbeen acheived without having to fire a single employee as FM Sitharaman confirmed just now.

Lol. Do you understand what this will cause for investor confidence? Why were Sebi and RBI doing till now? While they conducted an audit back in 2017 and uncovered some NPA loans unreported why did they let the board continue? It's quite a shame they will respond only when shit Hits the fan. Action should have been taken against the promoters long back.

 

[pikkuboss]

Lol. Do you understand what this will cause for investor confidence? Why were Sebi and RBI doing till now? While they conducted an audit back in 2017 and uncovered some NPA loans unreported why did they let the board continue? It's quite a shame they will respond only when shit Hits the fan. Action should have been taken against the promoters long back.

True. It's too late to action. I am just thinking about those people who bought this bank's shares @Rs.300 one year ago, now @Rs.15.
This bank was long ignored by Govt. and RBI. Hope my money doubles coming Monday.

 

[CrazyZ]

Who told you that this bank defaulted? Don't believe in tampered thread titles on PDF. This is one of biggest banks in India and technologically advanced than other banks. Most online businesses are run using this bank. It's shares will be bought by state bank of India next week and it will be business as usual.

I never said the bank defaulted, I said it has no true equity value left. It has a large amount of bad debt that will never be paid back....like Lehman brothers. It's the job of the central bank to make sure depositors get thier money back and stop the run on the bank......not bail out stock speculator's.

No foriegn firms were interested in bailing out this bank and RBI was the last option. What does that tell you about the stocks value.

 

[Sc0lar_Vis@ri]

i think bakhts will blame it on bangladesh stealing their holy cow and cross breeding it resulting in an impure mata and now idols are pissed at india for not protecting the purity of cow and punishing them!!

Wow, that some really financial wiz input !! If you don't understand economics, why comment on it with a totally irrelevant context?? Mods, doesn't this count for inflammatory behaviour ??

 

[N.Siddiqui]

No not missing in action bro. I told them this years ago that their economic bubble was about to burst but they never listened. India economy was placed on steroids to attract foreign investments but was artificially shown as growing. Many economists when projecting growth don't count the debt problem as if you count debt then there is no growth. India had increase in unemployment how can there be growth if unemployment is increasing. I mean Indian economy showed it was growing faster than Germany but such growth should also facilitate employment if that is not happening then it means there is no growth and. Some factor is canceling your growth which you are over looking and in indias case it was debt.

Sensex cracks 1,450 points; Rs 4 lakh crore gone in 60 seconds

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

 

[CIA Mole]

Only stupid gangus would still trust Yes bank after the shit they pulled last year.

 

[t1000]

In india starting/operating a savings account is pointless, as the interest p.a. is about 3.5%. Inflation is way higher; so money in savings account is actually a waste.
FDs at 6.5% pa barely beats inflation too.

Do Ambanis have a bank? Will/can they takeover/acquire the assets of this one?

Why need banks? They have modi-shah in pocket. Can do demonitization whenever they want to whitewash their black money.

The sugar high is wearing off. The tide is receding and the people swimming naked are being exposed. Debt bubbles are the number cause for economic crisis's.

Debt bubbles are there in practically every significant economy on the planet.

 

[Khanivore]

In the meantime Pakistan has been steadily repairing its economy. GDP is forecasted at $320 Bn annually with growth at 5.3%, and quarterly GDP growth at 5.39%, Debt/GDP ratio has recently dropped to 72.5%, which is not too bad at all. If Pakistan can maintain this growth, lower the inflation, pay off the debt, the economy will get better and better.