Coming with wood.

Sudden, unexpected dreams.

Um, I come here, explain a few things regarding the yes bank Some of the issues I would like to elaborate much before we get a picture.

It's not that the yes back matters come up yesterday.

Okay?

I'd like to I'd liketo place it on record that since 2017 that is so bank has bean continuously closely monitor And I can speak for May 2019 on words where I have bean directly in world in also closely working together.

So let me assure people that the government has, together with their Subang continuously monitoring this man.

And also, I'm sure the regulator r b I will be talking on many things with just basic to him as But when I say that we have bean together without being wanted, the major Mindstorms or something probably already know that since 2017 their suburban closely started monitoring and scrutinizing.

Yes, I am noticed that the governance issues it was science and the culture walkoff week compliance.

And then they were also wrong.

A set classifications together with risky credit.

Since our V, I started getting clear indication on all these grounds.

They clearly took some concrete steps which we have also being kept informed about.

And, as you all know, since 2000 for when it's bankwatch.

It has been under the same management from 2004 that after r B I scrutiny and identifying the culture of become planes, poor governance and very risky credit issuing habits.

In September 2 dozen ating, they clearly said that the leadership has to change.

They did not love the for the continuation off the chief DM from after September 18.

So these are specifically steps which the FBI has bean taking with an intentional keeping the bank Hendy and ensuring that where and us and when they fall certain things, they would do a correction.

A new C.

You're disappointed.

2018.

Also the cleaning up off the bank commenced from them.

A lot more information start coming in and they're so bank also started looking at newer issues.

Newer time just getting noticed as they start school to me and be promoter who was asked to let go.

His shapes had asked for more time.

Our baby was not willing to give an he had to be company toe, let go his shares in the mean wife.

So my practices off some of the chairman on dhe off that other people.

And that's why one of their top executives, C b I, came into the picture and started taking action.

He even signed maybe quoting some other reason.

But then he resigned clearly after action was initiated.

And in March 2 don'ts and 19 the new CEO was appointed started intensively, working together with RVs.

Oh, that the health of the banking system R B I did not stop at that.

Be kept informed.

One crore of rupees fine waas levied on this bank as early as March 2019.

Put on 17.

The intense scrutiny stops 18.

You clearly identify and don't love the leadership.

19.

One crore of rupees was even living this point on that was early.

That much to those and then say be also starts the investigation from September 2019.

On that allegation of that time, I don't know if there are many more which are getting added, but at that time it was on insider trading related.

Then in May, again, there was another set of fine imposed by this a bank because of non compliance related matters.

And a former deputy governor off R B I was appointed onto the board off Yes, as a diver in June 19 again under the set off Fine Spelling Bee saying, No, it is not happening.

You still don't seem to be having a good complaints culture.

Here we go on the fine.

A chief financial officer was also newly appointed, and it wa ce only in September 19 that you had a complete giving away off the shares of steak was completely sold out on this way.

There was also this promised being given saying, We're getting more money from your you're getting new equity.

Hear somebody coming from Hong Kong is giving us money on a very genuinely generally, attempts were made to get new equity infusion done into the gentlemanly lot of victims, but nothing media laced period after period.

The RV was also informing us that they've given them more time so that they can get fresh equity, fresh infusion of cash so that the bank said can be restored.

And every time you had to give them that space and margin because after all, if there is a genuine attempt being, let them get it.

But it didn't happen at all.

As a result, it went on like that and once in November 19 was very clear that no longer there was hope for them to get any more money.

And coincidently, chairman of the audit committee also signed early January 2020.

Things came to a seat well on.

That is when I think we intensely engaged as we were country ending a lot off.

No, you know, ideas with which we were talking be able stalking money.

I've asked, you know, actually to go in assessing what actually has cost these difficulties for yeah, of Austin to find out as to where the problem the cost set of problems and also clearly identified the role played by various individuals in the in creating the problem and not so ugly addressing.

And I've also asked our be able to tell me about de Crecy off the extent regulate three moms also the supervisory and it falls in the where and White I have Austin and I've also asked are very that so that the due process of law takes it close with a sense of urgency.

Well, stur wets the gum and our Dominus completely committed.

You win the poor sitters interest is completely safe.

Equally, I want the r b i to ensure the due process of law is set the rules with a sense of urgency so that we should find out as toe led to this problem.

Problem off this Sison in the the steps, of course, which are taken by our passages several.

I just love it yesterday on this west.

We've given the clearance for bringing a moratorium on to the bank the next 30 days, the withdrawal super session off the manager, meaning the bank's board, then an appointment off administrator who happens to be a former chief finance officer.

And then even as we speak, they have put in a scheme for Reese sitting already the RV and that's King will be affected within the period off the market means happy days.

We expect that scheme to fully come into play so that depositors are not as it just so I understand they are putting just being when a moratorium comes into play.

But our V A has assured me that the restructuring plan which is up now in our will come in tow, play within the more slowly impeded Don't 30 so that customers are not sitters that not I'm going to be s b I has expressed a willingness to invest over innately invest in the yes and the banks Soul invested a great deal reconstruction course.

It's a for the in the administrator's place.

Restructuring happens.

A new board will be pro.

The administrator does his job and he exits and then complete new board be putting please deposits and liabilities Really continue unaffected.

Asked before I know there is, Captain, but we shall continue every deposit and the liability, which means it will be important again employment and salary assured, at least for one year.

I've just given you some of the highlights off the skin, which they are.

You're welcome to have a look at it, but if you very clearly look at the U.

S.

Banks problems, I would like to reconnect the steps that have been talking about Bank very close.

17.

The MD and CEO have been forced to leave as of September 18 R b A s appointed one former deputy governor's onto the board of yes Bank as a director.

Then several enforcement actions have been taken up.

One of the chairman come out because c.

B.

I regulatory violations.

The guidelines have been violated have been picked up on the fines have been.

Maybe the bank was instructed to raise capital in a time bone manner for which they are B.

I gave three tranches off time.

Each time a genuine attempt was made to bring in more capital.

But each time pain as a result, nothing one particularly in the last day Today, monitoring has bean, I remember, and I'm sure many off recollect that I have repeatedly not I love any institution to fall off the cliff.

Did remember I do now remember that I had said this in the context of n b f ces, we also have been closely monitoring banking institutions.

Shadow banking institution.

For the last six, monitoring has been almost everyday basis.

I would like to tell you that, and one one indication not so much to speak off or not so much toe pick names.

It is important for the media to also know the exposure off.

Yes, but to some off the very stressed has bean since before 2014.

Since before 2014 I wouldn't even mind taking the names because you sleep.

These are public domain information.

I'm not violating anybody.

Any customers from the sea?

A Neelam Bonnie if cell group DEA chick Island office water form are some of those very stressed.

Cooperate.

Yes, be next.

And this is from prior to those No for sale This.

Why do I say to you?

I see the opposition being very keen.

Thanks.

I'm not here to 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 full and bean had handled the money the way they have.

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 looking the way you handled it.

Yes, Back the snow bank.

You don't know howto handle it again.

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 United Western Bank, which collapsed in 2006 almost on the word of collapsed 2006 forcefully merged with.

And today I have problems restoring some good helped off the FBI, giving you appointed example off how competing cell for point feeding doctors and united Western banks merge with the FBI.

I'd be a went down united Western backwards.

And that was the treatment offered by those who speak today about the way we ensure that the interest off Yes, bank and its customers see we're doing that.

It is.

What they did was this.

And their solution for a united Western bank has resulted in I d b a or so losing its mortal so self appointed, completely global trust Back when did that happen?

I'm sure you and the media will definitely do you like No, it was merged with Oriental Bank off solution easily.

Merge it up and wash your hands off goodness Bankoff.

This was merged with a private bank And when did this to those and six genuine and then three.

Let me ask you immediately and washed to Hansel.

How many people did they take action on how many people that they've been toe books to say These were the reasons for which these banks faced.

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

You know how you're handling.

We are ensuring the customers interesting.

We're ensuring that the depositors, a short and their monies will be sick, not like this imports and merge it off with some banks.

Let go those offenders and no asking.

Weston's uncomfortable for yourselves.

I have no problem answering oppositions questions on handling off the Indian economy at large by everyone.

But our approach has been to make sure that the institutions don't collapse, keep them with good health and about one customers interest client's interest, businesses interest depositors.

Interesting.

And that is why you know, Prime Minister insisted that we increase the deposit insurance from one so I would like, kindly take all on board.

We can assure through you once again all the depositors, your money is safe.

We shall ensure that very speedily this would be and a recent restructuring happen The interest off the depositors and the interest of Bye.

Now what?

Stop.

Yeah, When the Sebi has already started acting.

It's looking into as Big One will be able to speak about it.

But today for the restructuring plan, which they are B.

A is taking and we're constantly with the r B A is taking the initiator wander.

So it'll be they who probably gradually, Woody autopsies over and beating Good odds Made it that I've seen you make it.

I think r b I s giving Yeah, since I've also said that depositors interest did the money see?

Well, I very clearly told you that I'm closely monitoring every institution which requires that kind of monitoring along with our beer.

And today, after discussion, engagement giving time for their own attempts to get fusion of cash and so on.

We've taken a considered view that the board will have to be super superstition should happen.

It is because we're closely working to make sure that no institution really collapse.

We are working for restructure, keeping the interests of the depositors, and also lt's institutions which have invested Yeah, why wait?

You know, right?

No, that's very clearly upset about exports, right photos and 14 on stress The Beatles off and off Magnin, see that it's back.

No, I'll be able to come old.

It's all very well now.

I'm asking a few questions about things I'm doing you, which have remained on month till today, willing to answer for everything that which is happening now and also that which has happened between 14 2090 questions I would like to know more dances the for for the special request, you know, another brittle increase in credit.

A lot of areas giving you pointed answers about how they've started scrutiny between 2017.

What kind of action has been taken where penalties have been levy?

Compliance Not being one of the virtues of this bank of action has been taken how the leadership has been changed.

These are actions in response, doing, or at least not Vestal.

So clear me.

These are answers which are being given.

I'm giving them.

So be iess, giving them so the enemy reading.

You do ask me any number of times being post and questions with willing.

But I've raced questions off how unthinkingly the steps taken by those competent, completely dark have resulted in the economy.

Took today's banking sector.

Becoming is thanks to those so called second.

If, as I said, I've answered the question as we go along, you know, as toward the people win nothing r b I will give you for the clarification on all that we have.