Yes Bank | Committed to safeguarding depositors, says Nirmala Sitharaman
4 years, 10 months ago

Yes Bank | Committed to safeguarding depositors, says Nirmala Sitharaman

The Hindu  

The Centre has directed the Reserve Bank of India to look into the causes of the crisis at Yes Bank and to pin responsibility on the individuals responsible and those who failed to address the problems at the bank, Union Finance Minister Nirmala Sitharaman said on Friday. “While our government is completely committed to ensure that the depositors’ interest is completely safeguarded, equally I want the RBI to ensure that due process of law is set to roll with a sense of urgency, so that we should find out as to who led to this problem of this size and magnitude at Yes Bank,” said Ms. Sitharaman. Central agencies had pushed for management changes, slapped fines, investigated irregularities and urged equity infusions in an effort to improve Yes Bank’s health, she said. Countering Opposition criticism, Ms. Sitharaman claimed that Yes Bank’s exposure to stressed corporates such as the Anil Ambani group, Essel group, DHFL, IL&FS and Vodafone existed before 2014 during the UPA regime. “I have assured that I will not allow any institution to fall off the cliff.” While she acknowledged that there would be a “period of pain” for depositors, she insisted that all deposits and liabilities would be honoured and will continue unaffected as before, and assured Yes Bank’s employees that their jobs and salaries were assured for at least one year.

Bank Rbi Sitharaman Yes Bank Assured  safeguarding  bank  ms  rbi  claimed  assured  yes  group  committed  banks  read  sitharaman  depositors  nirmala

History of this topic

Yes Bank’s $5 billion stake said to attract lenders from the Middle East, Japan
5 months, 4 weeks ago

Yes Bank’s $5 billion stake said to attract lenders from the Middle East, Japan

Live Mint  

New Delhi: First Abu Dhabi Bank PJSC is among potential suitors for a roughly $5 billion stake in India’s Yes Bank Ltd, according to Bloomberg. The Middle Eastern lender is weighing a bid for as much as a 51% stake in YES Bank, the people said, asking not to be identified as the deliberations are private. Private lender YES Bank …

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 …

Union Finance Minister Nirmala Sitharaman kickstarts Coimbatore visit with cleanliness drive
1 year, 3 months ago

Union Finance Minister Nirmala Sitharaman kickstarts Coimbatore visit with cleanliness drive

The Hindu  

Union Finance Minister Nirmala Sitharaman, participated in a cleanliness drive organised by Canara Bank and the State Level Bankers’ Committee of Indian Overseas Bank, in Coimbatore on Tuesday, under the Swachh Bharat campaign of the Centre. The Minister spoke to officials of the two banks and proceeded to clean Bharathi Colony Road in Peelamedu, where the drive was conducted. Under …

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 …

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 …

Yes Bank Fraud Case: Blow To CBI As Court Dismisses Chargesheet To Prosecute Rana Kapoor In Absence Of Sanction
4 years, 5 months ago

Yes Bank Fraud Case: Blow To CBI As Court Dismisses Chargesheet To Prosecute Rana Kapoor In Absence Of Sanction

ABP News  

: In a twist in the Yes Bank fraud scam, the special CBI court on Friday sent the Yes Bank fraud case to a Metropolitan Magistrate in the absence of sanction obtained to prosecute the main accused Rana Kapoor under the Prevention of Corruption Act. In June, the Central Bureau of Investigation had filed a charge sheet against Yes Bank's …

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 …

Kapur family withdraws suit against Yes Bank in Bombay high court
4 years, 7 months ago

Kapur family withdraws suit against Yes Bank in Bombay high court

Live Mint  

Private sector lender Yes Bank on Tuesday said that Madhu Kapur and other family members have withdrawn their petition from the Bombay high court after having fought it since 2013. On 30 May, Yes Bank told the stock exchanges that Madhu Kapur, Shagun Kapur Gogia, Gaurav Kapur and Mags Finvest Pvt Ltd. – decided to give up their status as …

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: Wadhawans skip ED summons
4 years, 9 months ago

Yes Bank: Wadhawans skip ED summons

India TV News  

DHFL promoters Kapil and Dheeraj Wadhawan on Tuesday skipped appearing before the Enforcement Directorate in connection with a money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. It is expected that the ED may now issue them new summons for appearance and may also move a court seeking cancellation of the bail granted to Kapil Wadhawan …

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 …

Yes Bank crisis: Anil Ambani files adjournment plea before ED in probe against Rana Kapoor
4 years, 9 months ago

Yes Bank crisis: Anil Ambani files adjournment plea before ED in probe against Rana Kapoor

Firstpost  

Reliance Group Chairman Anil Ambani has filed an adjournment application and sought more time to appear before the Enforcement Directorate in connection with the ongoing money laundering probe related to Yes Bank co-founder Rana Kapoor Reliance Group Chairman Anil Ambani has filed an adjournment application and sought more time to appear before the Enforcement Directorate in connection with the ongoing …

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 …

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: 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 …

CBI raids 7 premises belonging to Rana Kapoor, kin; look out circulars issued
4 years, 10 months ago

CBI raids 7 premises belonging to Rana Kapoor, kin; look out circulars issued

Hindustan Times  

The Central Bureau of Investigation on Monday raided seven premises in Mumbai belonging to Rana Kapoor, his family members and entities belonging to Kapil and Dheeraj Wadhawan in its corruption probe against the Yes Bank founder. They all have been named as accused in CBI FIR along with five companies – Dewan Housing Finance Corporation Ltd, DOIT Urban Ventures, RAB …

Congress on Yes Bank crisis: Painting issue BJP’s diversionary tactics
4 years, 10 months ago

Congress on Yes Bank crisis: Painting issue BJP’s diversionary tactics

Live Mint  

NEW DELHI: The Congress party on Monday said the government, led by the Bharatiya Janata Party, was raising the issue of sale of a painting by Priyanka Gandhi Vadra to Yes Bank's founder as a bid to divert attention from the core issues plaguing the private sector lender. The key issues are - the past conduct of Yes Bank and …

Yes Bank founder Rana Kapoor laundered ₹4,300 cr black money, says ED
4 years, 10 months ago

Yes Bank founder Rana Kapoor laundered ₹4,300 cr black money, says ED

Live Mint  

While seeking the custody of Yes Bank founder Rana Kapoor, the Enforcement Directorate contended that prima facie he was involved in generating ₹4,300 crore in black money and "laundering" the amount. Simultaneously, it was also revealed that DHFL sanctioned a ₹600 crore loan to DUVIPL, run by Kapoor's daughters — Roshni Kapoor, Radha Kapoor-Khanna and Raakhee Kapoor-Tandon — who are …

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 …

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 …

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 …

Yes Bank: CBI, ED book founder Rana Kapoor; daughter stopped from leaving country | All that has happened
4 years, 10 months ago

Yes Bank: CBI, ED book founder Rana Kapoor; daughter stopped from leaving country | All that has happened

India Today  

After he was questioned for over 15 hours by the Enforcement Directorate at the agency’s Ballard Estate office in Mumbai, Yes Bank founder Rana Kapoor was arrested on Sunday. CBI files FIR, ED registers ECIR against Rana Kapoor Hours after the Central Bureau of Investigation filed an FIR against Yes Bank founder Rana Kapoor, the ED also registered an Enforcement …

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 …

Yes Bank crisis: BJP govt duped savings of 18 lakh Hindus, says AAP
4 years, 10 months ago

Yes Bank crisis: BJP govt duped savings of 18 lakh Hindus, says AAP

India TV News  

Delhi's ruling Aam Aadmi Party on Saturday attacked the Centre for bringing YES Bank to the brink of bankruptcy, saying the self-proclaimed pro-Hindu BJP government duped savings of 18 lakh Hindus. Aam Aadmi Party MLA Raghav Chadha said YES Bank's loans grew manifold during the BJP government and is now on the cusp of bankruptcy. He said the BJP claims …

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 …

ED questions Yes Bank founder for second consecutive day
4 years, 10 months ago

ED questions Yes Bank founder for second consecutive day

The Hindu  

The Enforcement Directorate on Saturday questioned Yes Bank founder Rana Kapoor for the second day in connection with the bank’s loans to the troubled Dewan Housing Finance Limited. Read: | Committed to safeguarding depositors, says Nirmala Sitharaman The ED had questioned Mr. Kapoor till late in the night on Friday at his Worli residence over the bank’s association with DHFL. …

Rana Kapoor, Yes Bank founder brought to ED's Mumbai office
4 years, 10 months ago

Rana Kapoor, Yes Bank founder brought to ED's Mumbai office

India TV News  

A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai on Saturday for further questioning. A senior ED official connected with the probe told IANS: "Kapoor will be questioned about Yes Bank loans to Dewan Housing Finance Limited." He said …

Yes Bank crisis: Not impressed with mere words, say account holders as SBI promises help
4 years, 10 months ago

Yes Bank crisis: Not impressed with mere words, say account holders as SBI promises help

India Today  

Sandeep Sule, a resident of Mumbai's Lalbagh area, had been running his medical shop "quite smoothly" until the overnight news of the Reserve Bank of India imposing a one-month moratorium on Yes Bank shocked him. On Thursday, the RBI imposed a one month moratorium on capital-starved Yes Bank and capped the monthly withdrawal limit for depositors to Rs 50,000 per …

Security tightened at Yes Bank branches
4 years, 10 months ago

Security tightened at Yes Bank branches

The Hindu  

Security at Yes Bank headquarters, its branches, and ATM booths across Mumbai was tightened to avert any untoward incident, as hundreds of account holders of the crisis-hit private lender rushed to withdraw money, an official said on Friday. The RBI on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at ₹50,000 per account till April 3. At …

Yes Bank customers hit by cap on withdrawals
4 years, 10 months ago

Yes Bank customers hit by cap on withdrawals

The Hindu  

Businesspersons who have an account in crisis-ridden private Yes Bank rue their fate as they are unable to carry out regular financial transactions in the wake of the Reserve Bank of India placing it under moratorium from March 5. “We opened accounts in the new-age private bank as the services offered by the staff are far better than other banks,” …

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 …

Yes Bank | In RBI bailout, SBI to pick up 49% stake for ₹2,450 crore
4 years, 10 months ago

Yes Bank | In RBI bailout, SBI to pick up 49% stake for ₹2,450 crore

The Hindu  

The Reserve Bank of India on Friday announced a draft reconstruction scheme for the beleaguered Yes Bank, aimed at protecting depositors’ funds while bringing in the State Bank of India as an investor. The SBI, which had earlier said its Board was exploring an investment in Yes Bank, will pick up a 49% stake, according to the scheme. “The members …

’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 …

Crisis at Yes Bank highlights governance risk in India's banking sector; RBI's decision may backfire: Fitch
4 years, 10 months ago

Crisis at Yes Bank highlights governance risk in India's banking sector; RBI's decision may backfire: Fitch

India TV News  

The RBI superseding the board of Yes Bank casts light on governance risks in India's banking sector, Fitch Ratings said on Friday. "The Reserve Bank of India takeover of Yes Bank casts light on governance risks in India's banking sector," Fitch Ratings, which has a negative outlook on India's banking sector, said in a statement. "This could overshadow the central …

Mutual funds’ exposure to Yes Bank paper at ₹2,783 crore
4 years, 10 months ago

Mutual funds’ exposure to Yes Bank paper at ₹2,783 crore

The Hindu  

The sudden moratorium on Yes Bank has put in peril many fund houses that have exposure towards the troubled lender by way of debt instruments like bonds or non convertible debentures. According to Value Research, a mutual fund tracking entity, fund houses had a cumulative exposure of about ₹2,783 crore towards Yes Bank as on January 31. Fund houses such …

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 …

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