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Withdrawal limit of Rs 1L on PMC bank can’t be increased due to lack of liquidity: RBI

Withdrawal limit of Rs 1L on PMC bank can’t be increased due to lack of liquidity: RBI

Finance
New Delhi: The Reserve Bank of India (RBI) on Friday told the Delhi High Court that presently it would not be possible to raise the withdrawal limit of Rs one lakh imposed on scam-hit Punjab and Maharashtra Cooperative (PMC) Bank Ltd due to its lack of liquidity. RBI has told the high court that against a total deposit liability of approximately Rs 10,000 crore as on March 26, 2020, liquid assets available with the PMC bank were to the tune of Rs 2,955.73 crore which is "grossly insufficient" to fully pay all its depositors as 78 per cent of its loans/advances are non-performing. It also told a bench of Chief Justice D N Patel and Justice Prateek Jalan that the insurance cover of Rs five lakh being provided to each depositor by the Deposit Insurance and Credit Guarantee Corporation (DICGC...
Republicans to Trump: You can’t delay 2020 election

Republicans to Trump: You can’t delay 2020 election

World
Top Republicans have rejected President Donald Trump's suggestion that November's presidential election should be delayed over alleged fraud concerns.Senate Majority Leader Mitch McConnell and House Minority Leader Kevin McCarthy both dismissed the idea.Mr Trump does not have the authority to postpone the election, as any delay would have to be approved by Congress.Earlier, the president suggested that increased postal voting could lead to fraud and inaccurate results.He floated a delay until people could "properly, securely and safely" vote. There is little evidence to support Mr Trump's claims but he has long railed against postal voting, which he has said would be susceptible to fraud.US states want to make mail-in voting easi...
Riley Keough shares message to late brother Ben: ‘I can’t believe you’ve left me’

Riley Keough shares message to late brother Ben: ‘I can’t believe you’ve left me’

Entertainment
July 18 (UPI) -- Actress Riley Keough shared on Instagram Saturday a message for her brother Benjamin Keough, who died last weekend. The Keoughs are the grandchildren of late rock 'n' roll icon Elvis Presley, and the children of musicians Lisa Marie Presley and Danny Keough. Advertisement Benjamin Keough, also a singer and actor, died Sunday of suicide. He was 27. "Mornings are the hardest. I forget you're gone," Riley, 31, wrote in her post, which also featured a gallery of candid photos of her and her sibling. "I can't cry because of the fear that I will never stop. A pain that's new to me. You. There are no words for you. Angel is the closest I could think of. Pure light. Baby brother. Best friend. Wild man. Intellectual. Witness to my life. Twin soul. Protector. Too sensitive for this...
The Latest: Italy-bound cruise can’t disembark in France

The Latest: Italy-bound cruise can’t disembark in France

Health
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: —-French authorities stop a cruise ship from disembarking passengers before reaching Italy —Trump hoping to resume campaign rallies without social distancing. — Japan surpasses 10,000 virus cases; Abe stresses importance of social distancing. —Africa now has more than 1,000 deaths from COVID-19, but WHO warns figures could be higher —South Korea shows lowest daily jump in virus cases since Feb. 20. —-France's parliament approves budget for governement's $ 120 billion economy rescue plan —- PARIS — French authorities have barred a cruise ship that’
Yes bank can’t declare firm NPA for non payment of loan due to coronavirus: HC

Yes bank can’t declare firm NPA for non payment of loan due to coronavirus: HC

Finance
New Delhi: The Delhi High Court Monday said that prima facie Yes Bank could not have declared a private company's account as non-performing asset (NPA) for its failure to pay loan installments due to coronavirus pandemic. Justice Sanjeev Sachdeva, who conducted the hearing through video conferencing, took on record the statement made by the counsel for Anant Raj Ltd that it will make payment on or before April 25, the instalment which fell due as on January 1, 2020 along with the interest accrued till the date of payment irrespective of the lockdown position. "Prima facie, I am of the view that the classification of the account of the petitioner (company) as an NPA on March 31, 2020 could not have been done by the respondent (bank). Accordingly, status quo ante is restored qua the classifi...