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 said in a regulatory filing. The Reserve Bank of India has temporarily disallowed it from paying interest on its tier-II bonds due on 29 June because of its weak capital position, the private sector lender said on 20 June. Under the plan, domestic investors including State Bank of India, Housing Development Finance Corp., ICICI Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank, and IDFC First Bank invested ₹10,000 crore into Yes Bank.

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History of this topic

SBI aims to sell Yes Bank stake worth $2.2 billion by end-March: Report
4 months, 4 weeks ago

SBI aims to sell Yes Bank stake worth $2.2 billion by end-March: Report

Hindustan Times  

State Bank of India is reportedly aiming to strike a deal by end-March for the sale of its 24% stake worth 184.2 billion rupees currently in smaller rival Yes Bank, four sources with direct knowledge said. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD are in advanced talks to acquire a majority stake in …

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 …

As lock-in expires, Yes Bank rescuers may retain stakes
1 year, 10 months ago

As lock-in expires, Yes Bank rescuers may retain stakes

Live Mint  

Mumbai: Banks that acquired stakes in Yes Bank as part of its rescue three years ago are likely to hold on to their shares even as a three-year lock-in ends on 13 March, three officials aware of the matter said. State Bank of India, ICICI Bank, Axis Bank, IDFC First Bank, Federal Bank, Kotak Mahindra Bank and Bandhan Bank have …

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 …

RBI may appeal HC order on Yes Bank AT-1 bonds
1 year, 11 months ago

RBI may appeal HC order on Yes Bank AT-1 bonds

Live Mint  

The Reserve Bank of India will likely appeal the Bombay high court ruling that quashed the regulator and Yes Bank administrator’s decision to write off additional tier-I bonds to save the lender from collapsing, according to two officials familiar with the matter. RBI approved the Yes Bank administrator’s March 2020 decision to write off the AT-I bonds as part of …

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 is confident of 15% credit growth in FY23
2 years, 5 months ago

Yes Bank is confident of 15% credit growth in FY23

Live Mint  

Yes Bank management on Saturday said that it is confident of meeting the 15% credit growth guidance for the fiscal year 2023, even as it reported a 50% year-on-year jump in net profit during the first quarter of the fiscal year owing to lower provisions. The private sector lender reported a net profit of ₹314 crore at the end of …

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 …

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 …

Yes Bank gains 5% in one day, 26% in one month
4 years, 1 month ago

Yes Bank gains 5% in one day, 26% in one month

Live Mint  

Yes Bank gained 5% today from the previous closing of ₹14.80 on Friday. CARE Ratings, in November revised its rating of private lender YES Bank's debt instrument. The credit rating agency upgraded YES Bank's infrastructure bonds rating to 'CARE BBB' from previous 'CARE B'. The outlook on YES Bank's ratings was changed to 'Stable' from 'Under Credit watch with Developing …

YES Bank: CARE upgrades bank’s debt instruments rating, outlook stable
4 years, 2 months ago

YES Bank: CARE upgrades bank’s debt instruments rating, outlook stable

Live Mint  

CARE Ratings on Tuesday revised its rating of private lender YES Bank's debt instrument. The credit rating agency upgraded YES Bank's infrastructure bonds rating to 'CARE BBB' from previous 'CARE B'. "The revision in the ratings assigned to the debt instruments of Yes Bank Limited factors in the improvement in the credit profile of the bank post the implementation of …

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 …

Why PMC Bank, Yes Bank depositors in different circumstances: HC asks RBI, govt
4 years, 6 months ago

Why PMC Bank, Yes Bank depositors in different circumstances: HC asks RBI, govt

Live Mint  

New Delhi: The Delhi high court has directed Reserve Bank of India and Centre to file additional affidavits on reasons which propelled forging of the Yes Bank Reconstruction Scheme, 2020. The affidavits will have to state how depositors of PMC Bank are in different circumstances compared with those of Yes Bank. The court, in its order uploaded today, asked RBI …

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 …

Yes Bank plans to raise ₹8,000 crore through rights issue
4 years, 6 months ago

Yes Bank plans to raise ₹8,000 crore through rights issue

Live Mint  

Yes Bank Ltd. is planning to raise at least ₹8000 crore in a public offering of shares to boost its capital, according to people familiar with the matter. That could help Yes Bank raise its Tier-1 core capital ratio to around 10%, from 6.3% as of end-March, said the people, who asked not to be identified as the information is …

Yes Bank Q4 results: Private lender posts Rs 2,629 cr net profit on gains from AT-1 bond write-off
4 years, 8 months ago

Yes Bank Q4 results: Private lender posts Rs 2,629 cr net profit on gains from AT-1 bond write-off

Firstpost  

Yes Bank had a loss of Rs 18,560 crore loss in the December quarter while the loss was at Rs 1,506 crore in the March 2019 quarter. Mumbai: Yes Bank on Wednesday reported a net profit of Rs 2,629 crore for the March quarter, helped by a massive gain of over Rs 6,200-crore arising out of a controversial write-off of …

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 …

Rescue act, again
4 years, 9 months ago

Rescue act, again

The Hindu  

India’s biggest bank rescue act could not have happened at a more inopportune time. Yes Bank had assets to the tune of Rs.3 lakh crore, but assets as defined in the banking industry are a peculiar artefact of accounting practices. He pointed out that for fiscal year 2015-16 Yes Bank disclosed its gross NPAs as Rs.7,490 crore but the RBI …

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 …

FPIs, institutional investors flag concerns over Yes Bank trading curbs without notice
4 years, 9 months ago

FPIs, institutional investors flag concerns over Yes Bank trading curbs without notice

Firstpost  

While shares of Yes Bank rose sharply by more than 50 percent to hit a high of Rs 40.40 apiece at the BSE on Monday following a restructuring scheme notified by the government on Saturday, one particular clause to restrict trading in the bank’s shares left many investors concerned. New Delhi: A sudden decision to restrict trading in shares of …

Investments in Yes Bank aimed at maintaining financial stability in system, not RoI: SBI chief
4 years, 9 months ago

Investments in Yes Bank aimed at maintaining financial stability in system, not RoI: SBI chief

Firstpost  

Mumbai: State Bank of India Chairman Rajnish Kumar on Monday said investments by banks in crippled Yes Bank are being made to maintain financial stability in the system, and not guided by the principle of return on investment. ICICI Bank, Housing Development Finance Corp Ltd, Axis Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First have also joined …

Yes Bank rescue plan: Bandhan Bank to invest Rs 300 cr as part of RBI's reconstruction plan for crisis-hit private lender
4 years, 9 months ago

Yes Bank rescue plan: Bandhan Bank to invest Rs 300 cr as part of RBI's reconstruction plan for crisis-hit private lender

Firstpost  

ICICI Bank, Housing Development Finance Corp Ltd, Axis Bank and Kotak Mahindra Bank too on Friday said they will join the SBI-led consortium and invest in Yes Bank. New Delhi: Private sector Bandhan Bank said it will invest Rs 300 crore in Yes Bank as part of RBI’s reconstruction plan for the crisis-hit lender. #JustIn | After ICICI Bank, Kotak …

Moratorium on Yes Bank to be lifted on March 18
4 years, 9 months ago

Moratorium on Yes Bank to be lifted on March 18

The Hindu  

The government has notified the reconstruction scheme for crisis-hit Yes Bank, according to which the r estrictions on withdrawals from its accounts will be lifted in “three working days” or on March 18. Watch | Yes Bank crisis explained Prior to this, on March 5, the RBI placed Yes Bank under a moratorium, restricting withdrawals to ₹50,000 per depositor till …

Yes Bank crisis: Moratorium to be lifted on March 18, rescue plan notified
4 years, 9 months ago

Yes Bank crisis: Moratorium to be lifted on March 18, rescue plan notified

India TV News  

The government on March 13 approved the reconstruction scheme drawn by the Reserve Bank of India's for Yes Bank. Yes Bank was placed under a moratorium earlier this month by the RBI, which took control of the board and also imposed a Rs 50,000-limit on withdrawals from the bank till April 3, sending thousands of depositors scurrying to retrieve their …

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 …

Scheme for Yes Bank gets Cabinet nod
4 years, 9 months ago

Scheme for Yes Bank gets Cabinet nod

The Hindu  

The Union Cabinet on Friday approved a reconstruction scheme for Yes Bank, as proposed by the Reserve Bank of India, under which the State Bank of India will acquire 49% stake in the ailing bank. “The Cabinet has approved the reconstruction scheme for Yes Bank as was proposed by the RBI. The decision to provide a reconstruction scheme keeps at …

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: ICICI Bank, HDFC, Axis, Kotak to infuse Rs 3,100 cr in crippled private lender as part of bailout plan
4 years, 9 months ago

Yes Bank crisis: ICICI Bank, HDFC, Axis, Kotak to infuse Rs 3,100 cr in crippled private lender as part of bailout plan

Firstpost  

ICICI Bank, HDFC, Axis Bank and Kotak Mahindra Bank will together invest Rs 3,100 crore as part of the RBI’s reconstruction plan for the crisis-hit lender, according to the regulatory filings ICICI Bank, HDFC, Axis Bank and Kotak Mahindra Bank will together invest Rs 3,100 crore as part of the RBI’s reconstruction plan for the crisis-hit Yes Bank, according to …

ICICI Bank approves Rs 1,000 crore investment in Yes Bank
4 years, 9 months ago

ICICI Bank approves Rs 1,000 crore investment in Yes Bank

India TV News  

In a major boost to Yes Bank revival plan, the ICICI Bank on Friday approved Rs. Earlier, The Union Cabinet on Friday approved re-construction scheme for Yes Bank under which SBI will acquire 49 per cent stake in the crisis-ridden private sector bank. Meanwhile, shares of Yes Bank on Friday rose by 2 per cent after State Bank of India …

YES Bank Crisis: L&T Moves Bombay HC Against RBI's Decision to Invalidate Additional Tier 1 Bonds
4 years, 9 months ago

YES Bank Crisis: L&T Moves Bombay HC Against RBI's Decision to Invalidate Additional Tier 1 Bonds

Live Law  

Larsen and Toubro have moved the Bombay High Court against the Reserve Bank of India's decision to invalidate the Additional Tier 1 bond of the crisis-hit YES bank as per a newly proposed reconstruction scheme. L&T's writ petition under the Banking Regulation Act comes after Axis Trustee Services Limited, the largest bondholder, already approached the High Court against RBI's. L&T's …

‘Allow temporary write-down of Yes Bank’s additional tier 1 bonds’
4 years, 9 months ago

‘Allow temporary write-down of Yes Bank’s additional tier 1 bonds’

The Hindu  

The Association of Mutual Funds in India has written to the Reserve Bank of India and the Securities and Exchange Board of India to allow fund houses a temporary write down of additional tier 1 bonds of Yes Bank to avoid a huge hit on the net asset value of schemes that hold such bonds. The industry body wrote to …

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 explained
4 years, 10 months ago

Yes Bank crisis explained

The Hindu  

The Reserve Bank of India has placed Yes Bank under moratorium. Many borrowers started defaultingThe bank’s gross non-performing asset percentage, that is the percentage of loans overdue for more than 90 days, zoomed to 7.39% as of September 2019, the highest among comparable banks. Loan spree and high NPA meant poor profitability, gauged by Yes Bank’s sinking Return on Assets …

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 …

Customers sensed all was not well with Yes Bank, withdrew ₹18,110 cr deposits during Mar-Sep 2019
4 years, 10 months ago

Customers sensed all was not well with Yes Bank, withdrew ₹18,110 cr deposits during Mar-Sep 2019

The Hindu  

Deposits at Yes Bank witnessed a steady decline during the March-September period last year as customers withdrew over ₹18,100 crore, in a reflection of falling confidence in the bank. Data | The Yes Bank crisis explained in six charts Yes Bank, which has been put under a moratorium by the Reserve Bank till April 3, during which customers are not …

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 …

CBI continues searches in Yes Bank case
4 years, 10 months ago

CBI continues searches in Yes Bank case

The Hindu  

The Central Bureau of Investigation on Monday searched several locations in Mumbai in connection with a first information report registered against Yes Bank founder Rana Kapoor on Sunday. Data | The Yes Bank crisis explained in six charts “Inquiries so far indicate that from April to June 2018, Yes Bank invested ₹3,700 crore in short-term debentures of DHFL. Simultaneously, Yes …

Company does not hold any additional tier I bonds of Yes Bank: Shriram Transport
4 years, 10 months ago

Company does not hold any additional tier I bonds of Yes Bank: Shriram Transport

India TV News  

Shriram Transport Finance Company on Monday clarified that it does not hold any additional tier-I bonds of cash-strapped Yes Bank. Clarifying to a news item, Shriram Transport Finance in a regulatory filing said that the "company does not hold any additional tier I bonds of Yes Bank Ltd" The filing further noted that "the company had invested in Upper Tier …

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 …

Data | The Yes Bank crisis explained in six charts
4 years, 10 months ago

Data | The Yes Bank crisis explained in six charts

The Hindu  

The government had recently 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. Percentage change of total advances image/svg+xml Bank FY14 to FY19 Yes Bank 334 HDFC 170 ICICI 73 Axis 115 Kotak 288 SBI 81 Bad loans multiply Many borrowers started defaulting. Gross …

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 …

Yes Bank founder Rana Kapoor, accused of money laundering, arrested
4 years, 10 months ago

Yes Bank founder Rana Kapoor, accused of money laundering, arrested

India TV News  

The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money laundering charges in the wee hours of Sunday. The ED action came after the Reserve Bank of India on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect. As per …

Explained: Why did Yes Bank have to be bailed out?
4 years, 10 months ago

Explained: Why did Yes Bank have to be bailed out?

The Hindu  

The story so far: On the advice of the Reserve Bank of India, the government imposed a moratorium on Yes Bank with effect from 6 p.m. on March 5 up to April 3. Subsequently, the RBI superseded the private sector lender’s board and appointed as an administrator, Prashant Kumar, who was serving as chief financial officer and deputy managing director …

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. …

ED continues questioning of Yes Bank founder Rana Kapoor in connection with money laundering case
4 years, 10 months ago

ED continues questioning of Yes Bank founder Rana Kapoor in connection with money laundering case

Firstpost  

The Enforcement Directorate on Saturday continued questioning Yes Bank founder Rana Kapoor in connection with a money laundering probe against him and others, officials said Mumbai: The Enforcement Directorate on Saturday continued questioning Yes Bank founder Rana Kapoor in connection with a money laundering probe against him and others, officials said. The central agency is also probing Kapoor’s role in …

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