Yes Bank, Indiabulls Housing are different peas stuck in same pod
5 years, 2 months ago

Yes Bank, Indiabulls Housing are different peas stuck in same pod

Live Mint  

A year ago, before the liquidity crunch manifested for non-banking financial companies, Yes Bank Ltd’s market capitalization was 1.5 times that of Indiabulls Housing Finance Ltd. Today, that difference has narrowed quite a bit as the adjoining chart shows. Both the lenders have seen a massive erosion in their market value, but Yes Bank’s pain has been deeper. The bank’s new chief Ravneet Gill has given repeated assurances that money would come, but the wait for a sizeable infusion continues. For Indiabulls Housing Finance, the merger with Lakshmi Vilas Bank Ltd was key to steadying its funding boat.

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History of this topic

YES bank rallies over 9.50 per cent amid reports of SBI offloading shares worth Rs 5,000-7,000 crore
11 months ago

YES bank rallies over 9.50 per cent amid reports of SBI offloading shares worth Rs 5,000-7,000 crore

India TV News  

Shares of YES Bank rallied 9.70 per cent to a 52-week high of Rs 32.70 on reports of the State Bank of India offloading its entire stake. Currently, the SBI Consortium holds a 32.70 per cent stake in YES Bank, with LIC holding 4.34 per cent and Axis Bank 2.57 percent. The surge in YES Bank shares by 26 per …

Yes Bank Shares Fall Over 16% in 2023; Should you Buy, Hold or Sell?
1 year, 11 months ago

Yes Bank Shares Fall Over 16% in 2023; Should you Buy, Hold or Sell?

News 18  

Yes Bank Share Price: Shares of YES Bank have been under pressure after climbing to its 52-week high of Rs 24.75 on 13 December, 2022. In these near one month time, Yes Bank shares have tumbled to the tune of 30 per cent whereas in YTD time, it has nosedived over 16 per cent. Giving Yes Bank shareholders to hold …

Yes Bank’s capital raise welcome, but challenges remain: Analysts
2 years, 5 months ago

Yes Bank’s capital raise welcome, but challenges remain: Analysts

Live Mint  

Indian private lender Yes Bank's $1.1 billion capital raise will help strengthen its balance sheet and provide it with growth capital, but it may not be an easy road ahead for the bank as the focus shifts to accelerating growth, say analysts. On Friday Yes Bank announced that it is selling up to a 10% stake to U.S. private equity …

Yes Bank-DHFL scam: CBI searches premises of prominent realtors in Mumbai, Pune
2 years, 8 months ago

Yes Bank-DHFL scam: CBI searches premises of prominent realtors in Mumbai, Pune

India TV News  

Highlights CBI conducted massive raids at eight premises in Mumbai and Pune in DHFL-Yes Bank case Premises belong to Avinash Bhosale and Shahid Balwa, who was named in 2G scam and later acquitted Radius Developers owe over Rs 3,000 crore to DHFL. It had taken loan to finance a project in Mumbai Yes Bank-DHFL scam: The CBI on Saturday began …

Yes Bank grapples with legacy issues left behind by disgraced founder
3 years, 5 months ago

Yes Bank grapples with legacy issues left behind by disgraced founder

Live Mint  

Two years after Rana Kapoor’s exit, Yes Bank continues to grapple with the legacy of its founder—a plethora of loans given out in an alleged quid pro quo where the bank bypassed institutional credit checks. Other controversial transactions include Yes Bank’s alleged dealings with a well-known asset reconstruction company promoted by the kin of a prominent industrialist, where close to …

Huge loss of public funds serious matter: Bombay HC while rejecting Yes Bank chief Rana Kapoor's bail plea
3 years, 11 months ago

Huge loss of public funds serious matter: Bombay HC while rejecting Yes Bank chief Rana Kapoor's bail plea

India Today  

The Bombay High Court rejected the bail plea of Yes Bank co-founder and former Managing Director Rana Kapoor last month. Huge loss of public fund is required to be viewed seriously.” The court further said, “It cannot be disputed that money lying with Yes Bank is public money.” Justice Prakash D Naik, in the 28 page order, noted that the …

Govt Approves Merger of Lakshmi Vilas Bank with DBS Bank India, Lifts Curbs on Withdrawal of Deposits
4 years, 1 month ago

Govt Approves Merger of Lakshmi Vilas Bank with DBS Bank India, Lifts Curbs on Withdrawal of Deposits

News 18  

The government on Wednesday approved merger of crisis-ridden Lakshmi Vilas Bank with DBS Bank India Ltd and removed restrictions on withdrawal of deposits by depositors. The Union Cabinet has approved the merger of the LVB with DBS Bank India Limited, Union Minister Prakash Javadekar told reporters, adding the decision will provide comfort to 20 lakh depositors and protect the services …

How the RBI got rid of Yes Bank’s Rana Kapoor
4 years, 2 months ago

How the RBI got rid of Yes Bank’s Rana Kapoor

Live Mint  

Yes Bank, as most readers will be aware, ended up in a downwards spiral. This ‘over-financing’ helped Yes Bank grow its balance sheet, earn profits, pay good dividends and keep the shareholders – which include Kapoor and his family – happy. Every time the RBI inspection team found a bad loan, Kapoor’s standard response was: ‘I will take care of …

Day after bonds were downgraded, Yes Bank says it has enough liquidity
4 years, 6 months ago

Day after bonds were downgraded, Yes Bank says it has enough liquidity

Live Mint  

Yes Bank has adequate liquidity to meet all its obligations, the private lender said on Wednesday, a day after Icra and Care Ratings downgraded the upper tier-II bonds of Yes Bank to default. “For Basel II, upper tier-II bonds, the specific features of the instrument require debt servicing to be linked to the bank meeting regulatory norms on capital adequacy,” …

Yes Bank to skip payment of interest on bonds
4 years, 6 months ago

Yes Bank to skip payment of interest on bonds

Live Mint  

Private sector lender Yes Bank Ltd said the Reserve Bank of India has temporarily disallowed it from paying interest on its tier-II bonds due on 29 June, due to its weak capital position. “We refer to our earlier communication dated 27 May 2020 wherein we had inter alia informed that as the capital to risk assets ratio of the bank …

Sebi removes Rana Kapoor as Yes Bank promoter
4 years, 6 months ago

Sebi removes Rana Kapoor as Yes Bank promoter

Live Mint  

The Securities and Exchange Board of India, has removed Yes Bank founder Rana Kapoor as the promoter of the company and reclassified him as an ordinary public shareholder. The bank informed the stock exchanges on Wednesday about Sebi’s decision following a request from the current management, who asked for Kapoor’s removal ahead of the follow-on public offer being planned in …

Three private banks pare stake in Yes Bank within 14 days of investing
4 years, 8 months ago

Three private banks pare stake in Yes Bank within 14 days of investing

Live Mint  

Mumbai: After mounting an effort to rescue Yes Bank last month, three private sector lenders have already sold part of their stakes between 17 March and 31 March, showed shareholding data from BSE. While Federal Bank’s stake in Yes Bank declined 47 basis points to 1.92% as on 31 March, Kotak Mahindra Bank’s stake fell 37 bps to 3.61% and …

Yes Bank crisis: Anil Ambani appears before ED in Mumbai in connection with money-laundering probe
4 years, 9 months ago

Yes Bank crisis: Anil Ambani appears before ED in Mumbai in connection with money-laundering probe

Firstpost  

Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said Mumbai: Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials …

Will add liquidity if needed, RBI assures Yes Bank depositors
4 years, 9 months ago

Will add liquidity if needed, RBI assures Yes Bank depositors

The Hindu  

Describing the reconstruction scheme for Yes Bank as credible and sustainable, Reserve Bank of India Governor Shaktikanta Das on Monday sought to assure the private bank’s depositors that their hard-earned money is safe. Watch | Yes Bank crisis explained “It is a very credible and sustainable restructuring plan,” Mr. Das said while addressing the media here on the Yes Bank …

Yet another case against Yes Bank’s Rana Kapoor
4 years, 9 months ago

Yet another case against Yes Bank’s Rana Kapoor

The Hindu  

The Central Bureau of Investigation on Friday conducted searches in another case against Rana Kapoor, the then Yes Bank promoter director, his wife Bindu and others in connection with alleged illegal gratification of ₹307 crore for concessions in loan repayments and more credit facilities to Avantha Group companies. Yes Bank had already extended credit facilities of about ₹2,500 crore to …

Four private lenders join Yes Bank rescue
4 years, 9 months ago

Four private lenders join Yes Bank rescue

The Hindu  

Private sector lenders, including ICICI Bank and HDFC, will pick up stake in the troubled private sector lender Yes Bank. While ICICI Bank and HDFC said they would invest ₹1,000 crore each in Yes Bank for about 5% stake each, Axis Bank pegged its investment at ₹600 crore and Kotak Mahindra Bank at ₹500 crore. In a notification to the …

Yes Bank: CBI registers case against founder Rana Kapoor
4 years, 9 months ago

Yes Bank: CBI registers case against founder Rana Kapoor

India TV News  

Central Bureau of Investigation has filed a case against Rana Kapoor, former Managing Director and CEO of Yes Bank. Rana Kapoor is also the founder of Yes Bank. It is alleged that the bungalow on Amrita Shet Gill Marg was acquired through M/s Bliss Abode pvt ltd. where Rana Kapoor's wife was one of the directors. 685 crore Rana Kapoor …

Yes Bank crisis: CBI books founder Rana Kapoor, wife Bindu and Avantha Realty promoter Gautam Thapar in fresh case
4 years, 9 months ago

Yes Bank crisis: CBI books founder Rana Kapoor, wife Bindu and Avantha Realty promoter Gautam Thapar in fresh case

Firstpost  

New Delhi: The CBI has booked Yes Bank founder Rana Kapoor and his wife Bindu for allegedly obtaining Rs 307 crore bribe through the purchase of a bungalow in a tony Delhi area from a realty firm at half the market price and facilitating around Rs 1,900 crore bank loans to it in return, officials said Friday. The agency suspects …

Yes Bank: prime properties in Delhi, Mumbai under ED scanner
4 years, 9 months ago

Yes Bank: prime properties in Delhi, Mumbai under ED scanner

The Hindu  

The Enforcement Directorate has started the process for attaching over a dozen properties in the posh localities of Delhi and Mumbai in connection with the case against crisis-hit Yes Bank’s promoter-director Rana Kapoor and others. The ED probe has revealed that the accused persons had invested about ₹6,000 crore through 78 companies, most of which were floated in the name …

Yes Bank crisis: Bad loans worth Rs 20,000 crore granted on Rana Kapoor's direction
4 years, 9 months ago

Yes Bank crisis: Bad loans worth Rs 20,000 crore granted on Rana Kapoor's direction

India Today  

The total exposure of Yes Bank could be over 2.25 lakh crore but of that, the non-performing assets are reportedly around Rs 42,000 crore. As per officials of the Enforcement Directorate, interrogating Yes Bank founder Rana Kapoor, of these Rs 42,000 crore loans that turned into NPAs, Rs 20,000 crore were allegedly offered to some corporate companies and Non-Banking Financial …

The public unravelling of Yes Bank
4 years, 9 months ago

The public unravelling of Yes Bank

The Hindu  

On Sunday, the Enforcement Directorate arrested Yes Bank’s swashbuckling co-promoter Rana Kapoor, accusing him and his family of using shell companies to receive kickbacks from the bank’s corporate borrowers. The RBI’s asset quality review had forced Yes Bank, as it had several other banks, to report transparently their previously unstated non-performing assets. The RBI found that for the year ended …

Yes Bank crisis: Rana Kapoor's three plush Delhi properties under ED lens
4 years, 9 months ago

Yes Bank crisis: Rana Kapoor's three plush Delhi properties under ED lens

India TV News  

Before Yes Bank founder Rana Kapoor could shift his base from India to any foreign country, the Enforcement Directorate took him in its custody and his plan to sell his three Delhi-based properties amounting over Rs 1,000 crore failed. Bindu Kapoor bought a luxurious bunglow at 40, Amrita Shergill Marg -- a prime location in Lutyens' Delhi -- in the …

The cost of a yes to a bank rescue act
4 years, 10 months ago

The cost of a yes to a bank rescue act

The Hindu  

The revival package announced by the Reserve Bank of India to rescue insolvent Yes Bank smacks of desperation. Even before undertaking due diligence, SBI Chairman Rajnish Kumar has announced that his bank is willing to outlay as much as ₹10,000 crore to recapitalise ailing Yes Bank and restore it to health. Data | The Yes Bank crisis explained in six …

Yes Bank debt writedown to hit sector capital-raising; some investors plan to challenge central bank’s move: Analysts
4 years, 10 months ago

Yes Bank debt writedown to hit sector capital-raising; some investors plan to challenge central bank’s move: Analysts

Firstpost  

Yes Bank had about Rs 8,800 crore in AT1 capital as of March 2019, its annual report showed, under the Basel III framework. Mumbai/Hong Kong: The unexpected writedown of some bonds issued by crisis-hit Indian lender Yes Bank as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts …

Claims of Investors in Fray, Ignoring Default Concerns & RBI’s Reluctance to Act: Tracing Collapse of Yes Bank
4 years, 10 months ago

Claims of Investors in Fray, Ignoring Default Concerns & RBI’s Reluctance to Act: Tracing Collapse of Yes Bank

News 18  

New Delhi: Did the sudden RBI takeover of India’s fourth-largest private bank, which was reeling under bad loans and whose collapse looked imminent, come in a bit too late? As we now know, not one investor finally bit the bullet and YES Bank remained starved of capital, with NPAs rising beyond the 7.39 per cent or Rs 17,134 crore number …

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
4 years, 10 months ago

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Firstpost  

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor’s Yes Bank shenanigans were simmering in the backdrop. The current crisis in Yes Bank makes for great headlines, with a high-profile founder lending huge amounts to tainted and/or serial borrowers, allegations of political corruption and a general state of injustice …

CBI books Yes Bank founder Rana Kapoor's family, conducts searches; ED quizzes Bank CEO
4 years, 10 months ago

CBI books Yes Bank founder Rana Kapoor's family, conducts searches; ED quizzes Bank CEO

India Today  

The CBI has booked Yes Bank founder Rana Kapoor's wife and three daughters over allegations he received kickbacks through scam-hit DHFL's Rs 600 crore loan to a family-owned company and searched seven locations including their homes in Mumbai, the agency said on Monday. DoIt Urban Ventures controlled by the Kapoor family, RAB Enterprises Private Limited in which Bindu Rana Kapoor …

Inside the house that Rana Kapoor built
4 years, 10 months ago

Inside the house that Rana Kapoor built

Live Mint  

Mumbai: Yes Bank Ltd’s tagline proclaims—“India bole Yes”. The message merely hinted that Kapoor’s reappointment as the bank’s MD and CEO for three years was being considered by the central bank—this was something both Yes Bank’s top management and its board always wanted. In the three years leading to FY17, Yes Bank’s loan book had bloated by 76%, which kept …

Yes Bank crisis | Indian banks well capitalised, no reason to worry: Chief Economic Adviser
4 years, 10 months ago

Yes Bank crisis | Indian banks well capitalised, no reason to worry: Chief Economic Adviser

The Hindu  

In the wake of the moratorium on private sector lender Yes Bank, the RBI clarified on Sunday that deposits of customers were safe. “The RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of safety of their deposits in any bank,” it said. Allaying concerns over the banking sector health, Chief Economic …

Government, RBI didn’t bother to read the balance sheet of Yes Bank, says Chidambaram
4 years, 10 months ago

Government, RBI didn’t bother to read the balance sheet of Yes Bank, says Chidambaram

The Hindu  

The government and the RBI didn’t bother to read the balance sheet of the Yes Bank, former Finance Minister P. Chidambaram said pointing out to the unusual growth in the loan book at the rate of 35% a year between March 2014 to March 2019. Read: Committed to safeguarding depositors, says Nirmala Sitharaman It was not banking but buccaneering, Mr. …

Banking on bailouts: The Hindu Editorial on Yes Bank crisis
4 years, 10 months ago

Banking on bailouts: The Hindu Editorial on Yes Bank crisis

The Hindu  

Just one day after it placed the financially troubled Yes Bank under a moratorium, the Reserve Bank of India announced a draft ‘Scheme of Reconstruction’ that entails the State Bank of India investing capital to acquire a 49% stake in the restructured private lender. The alacrity with which the bailout has been proposed is commendable, given that Yes Bank’s stock …

’Self-appointed competent doctors’: FM hits back at Chidambaram for jibe over Yes Bank crisis
4 years, 10 months ago

’Self-appointed competent doctors’: FM hits back at Chidambaram for jibe over Yes Bank crisis

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Friday hit back at senior Congress leader P Chidambaram for his jibe over crisis-hit Yes Bank's loan book swelling five times under BJP rule, saying "self-appointed competent doctors" created more problems in handling crisis at three banks during the UPA regime. "So-called self-appointed competent doctors" were in charge when United Western Bank was …

Saying ‘yes’ to troubled borrowers cost lender dear
4 years, 10 months ago

Saying ‘yes’ to troubled borrowers cost lender dear

The Hindu  

Yes Bank, one of the few greenfield banks that were allowed to start banking operations by Reserve Bank of India in the post liberalisation era, became the bank to go to for all those corporate borrowers whom other lenders did not oblige. As on March 31, 2014, the bank’s loan book was ₹55,633 crore and deposits were ₹74,192 crore. Stressed …

Congress questions Yes Bank loan surge
4 years, 10 months ago

Congress questions Yes Bank loan surge

The Hindu  

The ₹50,000 cap on withdrawal by depositors of Yes Bank by Reserve Bank of India triggered sharp reactions from Congress leaders on Friday. Senior leader and former Union Finance Minister P. Chidambaram said the government’s ‘ability to govern and regulate financial institutions stands exposed’. In a series of tweets, Mr. Chidambaram asked the government to explain how the loan book …

Rana Kapoor: A man driven by a huge sense of self-image
4 years, 10 months ago

Rana Kapoor: A man driven by a huge sense of self-image

Live Mint  

Those who remember Rana Kapoor and his dogged image-building from his earlier years might also recognize the bank he erected after his own image. From a junior banker handling the non-resident Indian business in Bank of America’s Barakhamba Road branch in New Delhi to his exit from Yes Bank as managing director and chief executive, via ANZ Grindlays and Rabobank …

Yes Bank Stock Crashes Over 70% After RBI Takes Charge; Rahul Gandhi Attacks PM Modi Over Crisis
4 years, 10 months ago

Yes Bank Stock Crashes Over 70% After RBI Takes Charge; Rahul Gandhi Attacks PM Modi Over Crisis

ABP News  

Modi and his ideas have destroyed India’s economy. #NoBank — Rahul Gandhi March 6, 2020 While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India. : Shares of Yes Bank …

ED raids Yes Bank founder Rana Kapoor's Mumbai house in DHFL case
4 years, 10 months ago

ED raids Yes Bank founder Rana Kapoor's Mumbai house in DHFL case

India Today  

The Enforcement Directorate is conducting searches at the residence of Yes Bank founder Rana Kapoor. Sources in the ED said that Yes Bank had provided loans worth hundreds of crores to DHFL which later turned into NPAs eventually leading to growing losses to the bank. ED officials are also checking possible illegal diversion of funds in Rana Kapoor accounts and …

Yes Bank crisis: I have no clue, says founder Rana Kapoor
4 years, 10 months ago

Yes Bank crisis: I have no clue, says founder Rana Kapoor

India Today  

Yes Bank founder and former MD Rana Kapoor has said that he has no clue about developments which forced Reserve Bank of India to impose a moratorium on the private lender. Once a driving force behind Yes Bank, Rana Kapoor sold his last remaining stake in the private sector lender in November 2019. Rana Kapoor was instrumental in taking Yes …

No Yes Bank, says Rahul Gandhi, accuses govt of destroying economy
4 years, 10 months ago

No Yes Bank, says Rahul Gandhi, accuses govt of destroying economy

India Today  

The Congress on Friday slammed the central government over the moratorium placed on Yes Bank, saying the difference between a "doctor" and a "quack" can be seen in Manmohan Singh's financial management in the UPA era and the economic "collapse" under Prime Minister Narendra Modi's watch. "No Yes Bank," Congress leader Rahul Gandhi said, taking a dig at the BJP-led …

Yes Bank put under moratorium till April 3
4 years, 10 months ago

Yes Bank put under moratorium till April 3

The Hindu  

The government has put private sector lender Yes Bank under moratorium till April 3 and capped deposit withdrawal at ₹50,000 after severe deterioration of the bank’s financial position. While assuring depositors of the bank that there is no need to panic, RBI said it will explore and draw up a scheme in the next few days for the bank’s reconstruction …

SBI chairman Rajnish Kumar says Yes Bank ‘will not be allowed to fail’
4 years, 11 months ago

SBI chairman Rajnish Kumar says Yes Bank ‘will not be allowed to fail’

Live Mint  

The head of India’s biggest lender said he’s certain “some solutions will emerge” to steady Yes Bank Ltd., which has been on a prolonged quest to raise new capital. “Yes Bank is a significant player in the market with an almost $40 billion balance sheet,” State Bank of India Chairman Rajnish Kumar told Bloomberg Television in Davos. However, last month …

Yes Bank shares tumble 5% ahead of board meeting; lender to finalise, approve proposed capital infusion
5 years, 1 month ago

Yes Bank shares tumble 5% ahead of board meeting; lender to finalise, approve proposed capital infusion

Firstpost  

Shares of Yes Bank on Tuesday declined by over 5 percent ahead of the board meeting later in the day to finalise and approve the proposed capital infusion New Delhi: Shares of Yes Bank on Tuesday declined by over 5 percent ahead of the board meeting later in the day to finalise and approve the proposed capital infusion. The bank …

Yes Bank claims of an investment offer worth $2 billion
5 years, 1 month ago

Yes Bank claims of an investment offer worth $2 billion

Live Mint  

Mumbai: Fund-scouting private lender Yes Bank Ltd., on Friday late evening said after a board meeting that a number of investors have evinced interest to buy Yes Bank equities worth a total of $2 billion via a preferential allotment of shares. Yes Bank said these investors include Discovery Capital, Ward Ferry, family offices of Aditya Birla Family and GMR Group …

Investors ignore Yes Bank’s blast from the past on hope of capital infusion
5 years, 1 month ago

Investors ignore Yes Bank’s blast from the past on hope of capital infusion

Live Mint  

Mumbai: Yes Bank Ltd investors should be used to bad news and false hopes by now. The bank in an exchange filing on Tuesday said that it under-reported gross bad loans by more than ₹3,000 crore and that the regulator assessed its bad loan addition at ₹11,159 crore for the year. This is the third fiscal year that Yes Bank …

Rana Kapoor’s stake in Yes Bank falls 0.8% more
5 years, 1 month ago

Rana Kapoor’s stake in Yes Bank falls 0.8% more

Live Mint  

Mumbai: Private lender Yes Bank Ltd.’s promoter Rana Kapoor now holds 100 million shares or 3.92% stake in the bank after Kapoor family-owned promoter entity YES Capital Pvt. Kapoor now holds 3.92% stake in Yes Bank directly and 900 shares through Yes Capital following the share sale. Kapoor family’s stake in the bank has been steadily coming down over the …

Indiabulls Housing Finance shares plunge after merger setback
5 years, 3 months ago

Indiabulls Housing Finance shares plunge after merger setback

Live Mint  

Indiabulls Housing Finance Ltd. plunged on Thursday, as the rebuff to its plan to merge with Lakshmi Vilas Bank Ltd. put a dent in hopes that shadow lenders could use such combinations to get better access to liquidity. The Reserve Bank of India rejected the merger plan, Chennai-based Lakshmi Vilas said in an exchange filing late Wednesday, without disclosing the …

Shares of Indiabulls Housing Finance, Lakshmi Vilas Bank hit 52-week lows after RBI rejected their merger proposal
5 years, 3 months ago

Shares of Indiabulls Housing Finance, Lakshmi Vilas Bank hit 52-week lows after RBI rejected their merger proposal

Firstpost  

New Delhi: Shares of Indiabulls Housing Finance and Lakshmi Vilas Bank plummeted up to 20 percent on Thursday after the Reserve Bank of India rejected their merger proposal. Indiabulls Housing Finance stock tumbled 18.02 percent to trade at Rs 197 on the BSE. Shares of Lakshmi Vilas Bank sank 5 percent to hit lower price band as well as one-year …

Lakshmi Vilas Bank-Indiabulls Housing Finance merger plan shot down by RBI
5 years, 3 months ago

Lakshmi Vilas Bank-Indiabulls Housing Finance merger plan shot down by RBI

Live Mint  

Mumbai: Mint brings you your dose of the top deals news, reported from newsrooms across the country Lakshmi Vilas Bank-Indiabulls Housing Finance merger plan shot down by RBI The Reserve Bank of India on Wednesday rejected the proposed merger between Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd, scuppering the first ever attempt by a non-bank lender to merge with …

Yes Bank CEO expects to raise up to $1.2 bn ‘much sooner than market expects’
5 years, 3 months ago

Yes Bank CEO expects to raise up to $1.2 bn ‘much sooner than market expects’

Live Mint  

Yes Bank Ltd. Chief Executive Officer Ravneet Gill said he expects to complete raising as much as $1.2 billion “much sooner than the market expects,” after sales of pledged shares this week eliminated an overhang on the lender’s stock. “I think every stakeholder of the bank is of the same view that we should get as much capital as we …

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