India’s Yes Bank has failed due to bad loans and RBI Takes Over it’s Board. India’s Banking Sector crisis and recession has been ongoing for last 2 years. A global recession could cause more trouble to Indian Banks where public sector banks hold billions of dollars worth of bad loans. Vulture Investors are ready to pounce when prizes assets are sold by the banks.
The government on Thursday imposed a withdrawal limit of Rs 50,000 for depositors of beleaguered private lender Yes Bank.
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