Bandhan Bank to invest ₹300 crore in Yes Bank

MUMBAI: Private sector lender Bandhan Bank on Saturday said it will invest ₹300 crore in Yes Bank under the bank’s reconstruction scheme, taking the total investment proposal to ₹10,650 crore. The bank said it will acquire 30 crore equity shares of ₹2 each at a premium of ₹8 per equity share, constituting less than 5% of the new issued and paid-up equity share capital of Yes Bank. “As per the Scheme of Reconstruction, 75% of the total investment of the bank would be locked in for three years,” Bandhan Bank said in a regulatory…

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Infosys writes off investment in Waterline as third startup bet turns sour

India-based multinational information technology services provider Infosys Ltd. has written off its investment in a United States startup that offers data discovery and governance software. The California-based startup called Waterline Data Inc., founded in 2013, will be acquired by a subsidiary of Japan’s Hitachi by the end of this month. This is the third startup bet that has turned sour for Infosys. The IT major had invested in Waterline through its $500 million Innovation Fund, launched in 2015. It first invested $4 million in January 2016. In March 2018, it bet a further…

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Portfolio Planning: Investment tips in the times of coronavirus

At some point when the stock markets stabilise, your returns from gold will slow down, but your equity returns will start improving again. The markets are reacting to the spread of the novel coronavirus. China sneezed, and the global economy went into a tizzy. Globally, stock markets are in a spin. Investors are worried. What should they do with their investments in a tough economy? Eyes on your goals First and foremost, always remember why you started an investment. Any investment must be tied to a specific goal. When you…

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Nippon India Mutual Fund marks down its investment in Yes Bank to zero

NEW DELHI : Nippon India Mutual Fund on Friday said it has marked down the value of its investments to zero in bonds issued by troubled private sector lender Yes Bank. In addition, the fund house has imposed a limit of ₹2 lakh on fresh inflows into the impacted schemes till further notice, Nippon India MF said in a statement. This limit is imposed only on the new applications, switch-ins, systematic transfer plans and systematic investment plans received after March 5, it said. The announcement came hours after Yes Bank was placed under a…

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Panic in Kashmir as case filed against social media users

Srinagar, Indian-administered Kashmir – Authorities in Indian-administered Kashmir have filed a police case against social media users under “anti-terror” laws for defying a social media ban using proxy servers. The move has triggered panic among the people of Kashmir, which has been under a security and communication lockdown since August 5, when the Muslim-majority region was stripped of its limited autonomy. A first information report (FIR or police complaint) has been filed against unnamed users under the Unlawful Activities Prevention Act (UAPA). A person booked under the UAPA can be jailed for…

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Police Register FIR Against Social Media Users In Jammu And Kashmir

As the Jammu and Kashmir administration struggles to prevent the people from using social media sites despite the ban, the police have registered a case against various people for defying the government orders. The Jammu and Kashmir Police on Monday registered a case against various people who have been using virtual private networks (VPN )apps to bypass the ban on social media sites. The union territory’s administration on January 14 had issued an order banning all social media sites to curb their misuse by miscreants for propagating false information and…

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