Real McCoy Posted March 7, 2020 Share Posted March 7, 2020 10 minutes ago, velu said: SBI and lic bailing it out Is yes bank ceo settled in america already like nirav modi. banking sector are legal stealers Link to comment Share on other sites More sharing options...
Real McCoy Posted March 7, 2020 Share Posted March 7, 2020 @velu Do you have any idea on the actual inflation rate. I don't think bank interest rates are coming anyway near it. That's why many investors invest in land and metals. But it comes with its own headache Link to comment Share on other sites More sharing options...
velu Posted March 7, 2020 Share Posted March 7, 2020 5 minutes ago, Real McCoy said: @velu Do you have any idea on the actual inflation rate. I don't think bank interest rates are coming anyway near it. That's why many investors invest in land and metals. But it comes with its own headache I didn’t deposit anything in yes bank .. it’s my account linked with my broker .. kept surplus money there Mariyam 1 Link to comment Share on other sites More sharing options...
Real McCoy Posted March 7, 2020 Share Posted March 7, 2020 17 minutes ago, velu said: I didn’t deposit anything in yes bank .. it’s my account linked with my broker .. kept surplus money there Then go to your broker's residence with a steel chair and make an offer he couldnt resist to shift to a trustworthy bank Link to comment Share on other sites More sharing options...
velu Posted March 7, 2020 Share Posted March 7, 2020 8 minutes ago, Real McCoy said: Then go to your broker's residence with a steel chair and make an offer he couldnt resist to shift to a trustworthy bank money in broking account is safe .. have to add secondary account as icici Link to comment Share on other sites More sharing options...
G_B_ Posted March 7, 2020 Share Posted March 7, 2020 On 3/6/2020 at 9:23 AM, Singh bling said: If Govt has nothing to do with private banks then why the hell Finance minister is giving statement on Yes bank crisis . Cause sbi a goi owned bank is taking over The truth is goi asked rbi to take over yes bank in August itself Rbi rather waited I am sure libtards would then accuse government of being socialist... Yes bank took too many risks. It failed. velu, sergio04 and adi B 3 Link to comment Share on other sites More sharing options...
jusarrived Posted March 7, 2020 Share Posted March 7, 2020 What a sad little bunch these are . Any company which is doing well , accuse the govt of favouring rich/corporates and blame the same govt when these companies are in trouble ? adi B 1 Link to comment Share on other sites More sharing options...
jusarrived Posted March 7, 2020 Share Posted March 7, 2020 4 hours ago, velu said: Have 3.27L in yes bank account I lost nearly the same amount in yes stocks . At one point had a 7 figure profit from the same stock . Jimmy Cliff, velu and randomGuy 3 Link to comment Share on other sites More sharing options...
velu Posted March 7, 2020 Share Posted March 7, 2020 @Mariyam I have trading/demat account with Motilal Oswal .. if I want to transfer or withdraw money from my trading account , I have to link a bank account . i linked my yes bank account , kept some free cash in it Link to comment Share on other sites More sharing options...
randomGuy Posted March 7, 2020 Share Posted March 7, 2020 1 hour ago, jusarrived said: I lost nearly the same amount in yes stocks . At one point had a 7 figure profit from the same stock . I told my brother that it is going to zero when I sold it at 170/-...but he didn't sell it saying he can't/won't book loss... ultimately he booked at 43/-....so he lost 2.8 lacs...I lost 2 lacs but had gained 2.5 lacs earlier so net 50k profits... Also...all family members have yb acc. had left just 200 rupees in all those accs. In year 2020 coz it looked it yb had negative networth after all npas Link to comment Share on other sites More sharing options...
randomGuy Posted March 7, 2020 Share Posted March 7, 2020 (edited) 6 hours ago, velu said: Have 3.27L in yes bank account I am sure you will take it out at first opportunity n so will everyone. How will yb survive when deposits are taken out?... Govt. should and I guess they ultimately would merge YB with SBI ( as opposed to 49%stake) Edited March 7, 2020 by randomGuy Link to comment Share on other sites More sharing options...
Straight Drive Posted March 8, 2020 Share Posted March 8, 2020 Good that I exited Yes bank when it was at CMP 400. Has too be moved out from NIFTY 50 index and replaced by some other worthy stock. Link to comment Share on other sites More sharing options...
Straight Drive Posted March 8, 2020 Share Posted March 8, 2020 On 3/6/2020 at 1:52 PM, Singh bling said: https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-placed-under-moratorium-govt-limits-withdrawals-at-rs-50000/videoshow/74498551.cms Banks are falling like pack of cards but Bhakts just want People to support to Modi govt on Hindu muslim issue The while banking sector is messed up with NPA and loans given for return benefits. All parties are using public money to recapitalize the scam hit banks. RBI may be the governing body but they are under control of the parties who form the government. It's been that way since the times of Congress and continues even now. There is lot of conflict between RBI and government at times, but even t then RBI cannot take all decisions they want. I guess last year they recapitalized Corporation bank with 5000 crore? Why should public money be used to cover us scams and frauds. Link to comment Share on other sites More sharing options...
jf1gp_1 Posted March 8, 2020 Share Posted March 8, 2020 1 minute ago, Straight Drive said: The while banking sector is messed up with NPA and loans given for return benefits. All parties are using public money to recapitalize the scam hit banks. RBI may be the governing body but they are under control of the parties who form the government. It's been that way since the times of Congress and continues even now. There is lot of conflict between RBI and government at times, but even t then RBI cannot take all decisions they want. I guess last year they recapitalized Corporation bank with 5000 crore? Why should public money be used to cover us scams and frauds. In principle i agree with you. However when i think of impacted people i am truly conflicted. We have to find a way to recover lost money. Likes of Rana kapoor should be in jail and when they come out shouldnt have enough money to buy a meal only that kind of recovery will put fear in others. Link to comment Share on other sites More sharing options...
velu Posted March 8, 2020 Share Posted March 8, 2020 Got back 50k so far Link to comment Share on other sites More sharing options...
velu Posted March 8, 2020 Share Posted March 8, 2020 1 hour ago, Straight Drive said: Good that I exited Yes bank when it was at CMP 400. Has too be moved out from NIFTY 50 index and replaced by some other worthy stock. shree cements .. well run company but extremely conservative 1 hour ago, Straight Drive said: The while banking sector is messed up with NPA and loans given for return benefits. All parties are using public money to recapitalize the scam hit banks. RBI may be the governing body but they are under control of the parties who form the government. It's been that way since the times of Congress and continues even now. There is lot of conflict between RBI and government at times, but even t then RBI cannot take all decisions they want. I guess last year they recapitalized Corporation bank with 5000 crore? Why should public money be used to cover us scams and frauds. banking affects other industries .. allowing the banks to fail will have far worse impact .. failing to save il&fs damaged the real estate , auto and other SMEs .. anyway if the company fails because of incompetency or mkt conditions , our banks should write off instead of dragging it .. scams are a different thing though Link to comment Share on other sites More sharing options...
Straight Drive Posted March 8, 2020 Share Posted March 8, 2020 1 hour ago, jf1gp_1 said: In principle i agree with you. However when i think of impacted people i am truly conflicted. We have to find a way to recover lost money. Likes of Rana kapoor should be in jail and when they come out shouldnt have enough money to buy a meal only that kind of recovery will put fear in others. People should manage their finances well as avoid keeping all of it in one bank or in one investment category. They should be prudent enough to analyze risks and plan accordingly. To safeguard people, money should be recovered by registering cases Criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and misrepresentation. Further the properties of guilty should be sold and money should be given back to depositors. To use public money to refund depositors by means of recapitalization is what I am against. Why should i get burdened because of some person kept monies in a bank which was under scanner since two years. Someone's lack of knowledge should not be a burden for someone else. Hope you get my point of view. Link to comment Share on other sites More sharing options...
Straight Drive Posted March 8, 2020 Share Posted March 8, 2020 14 minutes ago, velu said: shree cements .. well run company but extremely conservative banking affects other industries .. allowing the banks to fail will have far worse impact .. failing to save il&fs damaged the real estate , auto and other SMEs .. anyway if the company fails because of incompetency or mkt conditions , our banks should write off instead of dragging it .. scams are a different thing though Shree cements has given good returns but I do not hold any long positions in it. Once the precedent of saving one bank where intentional fraud was done, then it is not a good move. Bailing out a company should be justified. Fraud and scams do not deserve that. Link to comment Share on other sites More sharing options...
velu Posted March 8, 2020 Share Posted March 8, 2020 27 minutes ago, Straight Drive said: Shree cements has given good returns but I do not hold any long positions in it. Once the precedent of saving one bank where intentional fraud was done, then it is not a good move. Bailing out a company should be justified. Fraud and scams do not deserve that. here both sbi and lic bailing out yes bank , now they will be the major share holders .. bailing out companies like jet airways ( business failure ) is different from bailing out banks randomGuy 1 Link to comment Share on other sites More sharing options...
Straight Drive Posted March 8, 2020 Share Posted March 8, 2020 33 minutes ago, velu said: here both sbi and lic bailing out yes bank , now they will be the major share holders .. bailing out companies like jet airways ( business failure ) is different from bailing out banks Well, I differ on this. Personally I got rid of my position in Yes Bank when there was a hint of cooked loan books. The CMP was 400 then. Even most other investors and Mutual Funds have reacted negatively over a period of last 1 or 2 years and bought the CMP down at 16 Rs as of yesterday. Market is never emotional and it shows in this case as well. I don't mind bail-outs but in this case I am against it because it's a intentional scam or fraud. Link to comment Share on other sites More sharing options...
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