Welcome to the biggest story viewers today the focus on off to the PMC the crisis at the yes Bank.

Even as the government says don't body the r b, I places restrictions on them and investors and the common man tries to understand what went wrong.

I'm do the morning Bhardwaj us Our biggest story.

Yes, bank has been placed on the moratorium on withdrawal limit has been captured.

Rupees 50,000.

Soon after RVs superseded guest bank, the FBI has been tossed Tow bill out India's fifth largest private sector lender, R B I is attempting to pluck it the depositors and assure them that there is no need to panic Union Finance Minister Nurmela Sitaram and has hit back, reminding the U P off its own blunders.

We get you breaking news.

The r B I has placed a draft scheme of reconstruction of the yes Bank.

The Reserve Bank has also said Yes, Bankscapital stands all dirt at ₹5000 crore.

Strategy Investor Bank will bring in 45% equity.

This is the breaking news coming in at the central government, the shores, the citizens that there is no need to panic we're going to get to the breaking news rebuilding scheme has already been put into place.

The R B I's drop for rebuilding guest bank has come for the reconstruction off.

Yes, bank, they've said to the capital stands alter the ₹5000 crore strategy Investor Bank will bring in 49% equity.

Let's go across to our executive editor Appreciate report on the phone line.

Appreciate.

Break this down for us.

The central government says.

Don't panic, but investors clearly panicking well, they would do a vicious because their lifetime's savings And in many cases, you know, money meant for emergencies is locked in and they can take it out.

But what is important is that the government is in top gear along with R B.

I have put in place this reconstruction plan.

In venture, the FBI would effectively take over 49% equity and would remain invested for three years.

Apart from that, we are told that the border management has been completely taken over and any issues off liquidity would be the sole responsibility of the the ricin sent me and what with the responsibility off the government of India.

So in that in that situation.

I believe it just a matter off a month or so The time that is needed to sort out everything in terms off, making sure that the control of the State Bank of India is there on yes, bank.

But what is important is that good.

The government about the government and are we are working in tandem.

As we saw, the manager of the Finance Minister spoke about the issue twice in the day, first in parliament outside parliament and then, of course, at the north block.

So, uh, latest plan the restructuring plan that has been put in place is going to make sure that for the next three years, effective management off yes, bank remains with the FBI and between the FBI and the government.

There is no liquidity issue the state Banks with you think I think about it?

So in a sense, the investors and the customers should be rest assured that whatever the turbulent they are seeing is going to last for a month, month and 1/2.

In fact, the finance minister did say that within a month's time the resolution in the restructuring plan of the reconstruction planet there is a bank off in there would be put in place.

All right, Thank you.

Appreciate for that.

And as a bishop mentioned, he mentioned the finance Minister's a reaction and assurance that everything is in place.

Let's listen into that now.

If I say all this, why do I say to you?

I see the opposition being very keen to point a finger at this.

I'm not your toe.

Continue carrying the stories of legacy Legacy.

Yes, The Indian banking system has had severe challenges thanks to the way in which the government which existed between 2000 four and 14 had handled the matters the way they had.

But I'm not saying it because I have to put the blame on them.

But I have reasons to put the blame on.

I'd give you even instances they're telling us about all Look at the way you handled it.

Yes, Bank A snow bank.

You don't know howto handle it again.

The so called self appointed competing doctors are saying this and the so called self appointed competed doctors where the ones who have United Western Bank, the old remember United Western Bank which collapsed in 2006 almost on the word of collapsed 2006 forcefully merged with the FBI.

And today, if I have problems restoring some good helped off the FBI, I'm giving you a pointed example off.

How competing, self appointed competing doctors that handled United Western banks merger with ID.

I'd be a went down united Western back.

Was anyone challenged?

And that is the treatment offered by those who speak today about the way we've ensured that the interest off Yes, Bank and its customers kept saying, We're doing that, but it's what they did was this, And their solution for a united Western bank has resulted in I d Be a also losing its moons so self appointed, completely doctors global trust Back when did that happen?

I'm sure you would.

The media will definitely remember July 2004.

It was much with Oriental Bank of Commerce solution easily merge it up and wash your hands off dead garnish.

Bankoff couldn't This was merged with a private bank federal back And when did this happen to those in 6 January And in all three?

Let me ask.

You immediately merged and washed to himself.

How many people did they take action on how many people they been toe books to say.

These were the reasons for which these banks faced challenge.

And here are we having them quickly jumped to see and say, Oh, no, no, you don't know what you're doing.

You don't know how you're handling economic office.

We are ensuring the customers interesting.

We're ensuring that the depositors are assured and their monies will be safe.

Not like this.

Imports and murdered off with some banks.

Let go those offenders and now ask uncomfortable questions.

Uncomfortable for yourselves, I have no problem answering oppositions questions on our handling off the Indian economy alarm.

So everyone off.

But our approach has been to make sure that the institutions don't collapse, keep them with good health and about wall.

Keep the customers interest client's interests, businesses, interest depositors, interests.

And that is why you know, Prime Minister insisted that we increase the deposit insurance from one like to fight.

Yes, bank fiasco is not a sudden occurrence.

Rather, it has been a disaster in the making due to non compliance with regulations.

Bad investments in a florid leadership republic spoke toe autumn, a gravel off former independent director of yes, bank who quit after pointing out several issues in the administration on the operations listening Jan.

2020.

I'm gonna read out Jan.

2020 days after you resigned.

You know, to the r b i ue roto the r b I seeking removal off need guilt.

You made serious allegations, including breach of governance, noncompliance, undue influence on controlling majority members of the board.

Buyer of need, guilt through quid pro quo.

Now I'm using the words that you used.

Could you elaborate on how and what you found during your tenure as independent director and chairman of the committee and yes, bank when you have a letter of it?

You know, I think I celebrated each and every issues.

I think it started with the appointment of the CIA.

Awful moment.

Mr.

Gill joined the board in the month of March on without approval of audit, Come pretty all of a sudden, without knowing to any of us appointed and issued a letter for appointment of the fearful second thing.

Uh, he, uh, he wait announcement on the video location about the raging off funds without having any proper document in his head.

He started recruiting unnecessary people biting huge salary off for crow to corrode that you saw on us.

Even he tried to pay.

So the varied reporting employees to him the huge bonus on in agreement he even the first quarter account without my approval without my knowledge.

He came out in the morning and he said there is already a committee meeting at the second.

I have prepared and finalize.

He has been used among in the queue i p without involvement off any of the people that I already mentioned.

18 corrode rupees.

Yes, bed.

So one of the company which is not even registered with the city and his name is not there in the Annex B documents.

If you couldn't get into specifics on how as you have alleged in one of your letters, there was substantial erosion, you said In market capitalization the number you've stated in your letter is 40,000 crore.

Substantial market capitalization erosion 40,000 crores in one year is a big number.

I can see you can see the data with the hotel.

When Mr Gill joined what was the market Capital Capital and Tory party, the market capital.

It's a used in origin off the capital of the stakeholders you wrote in January this year to the r B.

I did the r B I act or a spawn they didn't know.

Caution toe ask me.

There is a result before the Arabia has walked that sex and 45 off banking regulations on their taken the decision, they must tell youto the RV authority fight first capital raising.

But announce we don't even the approval of the board of directors on Lee by the Capital Raising Committee that 1.2 billion by one Kennedy, an investor This has never come out after 15 days.

All of a sudden, without any document evidence, the management comes out that we have the investment off to two million.

After that, Mr Lockwood.

Well, yes.

Bang.

The fifth largest private lender in India on aggressive lender who wander on a Kapoor gave loans to companies where no other lenders wanted to give them loans.

And we all know how Tanaka porters to operate.

In that sense, r b I claims that yes, bank under reported and P S r b I said that yes.

Bank under reported and P s Did you spot any red flags in the dealings over the years when you were at the S bankers, a former independent director, not disease already done.

But then I joined this already report came loaned for disperse.

Everything was done after joining me.

I don't think that any big advances waas given to any of the corporate house I was never part off any BCC or MCC committee.

Yeah, on bad loans work nearly 17,134 Kronen.

Yes, bank.

What in your assessment may have led to the situation and wanted, Are we?

I do to address these red flags I waas never provided I don't have a chairman off audit committee by the management Onley.

After putting the present only the third quarter, they just give me that phone before one day that also I objected about the count off HGTV off ₹300 takes departed which they kiss and adjusted in the count, and I put the descent on a roll of a conch.

Even then board of directors has gone toe going ahead to approve the accountant published with the public.

A lot of people, including you know, many, many companies have accounts with the bank salaries are linked to Yes bank.

They're unable to withdraw money that are millions of people left in the large today.

And they were Spanich in several cities where people rushed to the branches to see if they could withdraw whatever they can.

At this point, I think the only question on everyone's mind is whether they will get their money back or, well, Liggett full access to their money anytime soon.

There is no need to have a penny to their depositors card R B I s clearly mention bypassing the Garden.

It is only for 30 days to improve that state of a header off the West Bank.

Nobody has to, depending on this issue.

Do you think the R B I could have stepped in earlier, and if the R V A had stepped in earlier, we could have avoided this situation.

I cannot comment on the functioning off, baby.

This is a great institute of our country.

They do with their own on old process to examine the issue, and they concluded, and they'll come out with this particular decisions.

You know, there's also parallel taco for the f B I analyst, probably playing a role in in, you know, in trying to sort of for bailout?

Yes, bank.

In this time of crisis, you think in your assessment, or do you think that's that's a good idea at the moment, I think what?

The institute are good for our country.

And if they come forward, certainly with the support of our B A and over central government, uh, our thing will come back and our stupid revenge on good instead of what it was.

You know, the biggest story viewers are top focus continues to be on the crisis in the yes bank Republic now tells your stories off.

A fabric dealer based out of cannot place in the national capital who has as many a six accounts in guess Bank.

All his transactions have now Bean, unfortunately, put on hold the county bank or get kidnapped on tank number on the contents are bancha be together because we do understand the limit.

Cardigan.

What are the problem you're facing at the same time on as you just told us that you are into business?

Excellent class.

Copy.

We do understand problems of Killian, but business cutter election went through that you still have a problem here.

I just want to understand.

You can come out of the freezer again.

50,000 kilometres Ghani assets on my little shop.

It's a machine.

Here is some cards in the middle of a major league Looks up card.

That will be up.

Yes.

Bank.

Ever accept payments?

Mr Barnes, Our feast They're going to have back in time like a savings accounts.

A company from cargo just got business fabrics.

Frankie like, shortens the area.

Keep me John Avala.

Each and every money will be returned.

But their depositors Don't worry.

Don't panic, Goldring.

But still we are human.

So obviously it comes in the mind.

Here it was out of my head.

Habito 50,000 cap.

Next was a path toward April Cap 50,000 Geordies, but will take time to recover so much amount.