PM’s visit to Brussels put oﬀ as COVID-19 cases rise to 30
- India reported another conﬁrmed novel coronavirus case from Ghaziabad, taking the total to 30.
- To prevent the spread of the virus, the Delhi government has now ordered the immediate closure of primary schools in the capital till March 31. “All Delhi government, aided, private and schools run by civic bodies will remain shut,” said Deputy Chief Minister Manish Sisodia. Delhi has also suspended biometric attendance.
Yes Bank under moratorium till April 3
- Private sector lender Yes Bank has been placed under moratorium till April 3 by the government after severe deterioration of its ﬁnancial position. The Reserve Bank of India has superseded the board of the bank and has appointed Prashant Kumar, deputy managing director and chief ﬁnancial oﬃcer of the State Bank of India, as the administrator.
- Deposit withdrawals have been capped at ₹50,000, but exceptions will be made for depositors who need money for unavoidable emergency.
NSE told to submit road map for diluting stake in CAMS
- The Securities and Exchange Board of India (SEBI) has directed the National Stock Exchange (NSE) to submit a plan for diluting its entire stake in Computer Age Management Systems (CAMS) — the country’s largest share registrar and transfer agent (RTA).
- “The exchange has said that there are practical issues in divesting the entire stake at one go. So, we told them to submit a road map for divestment that we can approve,” the oﬃcial said, adding that the bourse was yet to submit its plan of action for the stake sale.
- CAMS, which has a market share of nearly 70%, has already ﬁled its document for an initial public oﬀer, which is likely to be around ₹1,500 crore in size. Once the draft document gets the ﬁnal regulatory approval, the promoter shares, which includes NSE’s stake, get locked in for one year, which could derail the stake sale process of NSE to comply with the SEBI directive.