How Rana Kapoor's 'authoritarian' streak proved to be the bank's undoing
While the Yes Bank co-founder was quick to sell his 'diamonds,' the bank continues to suffer.06-03-2020
06-03-2020
Yes Bank: How it impacts your debt fund investments
For the time being, investors should hold on to their investments06-03-2020
How the Yes Bank crisis unfolded - A timeline
Yes bank crisis: In a drastic turn of events,India's central bank took control of the country's fifth-largest private sector lender Yes Bank on Thursday and imposed limits on withdrawals06-03-2020
YES BANK LTD. - 532648 - Supersession Of The Board Of Directors & Appointment Of Administrator By Reserve Bank Of India And Yes Bank Limited Placed Under Moratorium. (Intimation Under Regulation 30 Of SEBI LODR)
With reference to the above, please find attached herewith the following: 1. Notification issued by Department of Financial Services, Ministry of Finance 2. Press release issued by Reserve Bank of India In line with the above Shri Prashant Kumar, ex-DMD and CFO of State Bank of India who has been appointed as the Administrator by the Reserve Bank of India under Section 36ACA(2) of the Banking Regulation Act, 1949 has taken charge with effect from today. You are requested to kindly take the same on records.06-03-2020
All may not be lost for YES Bank but insiders say its recovery to be slow
It will depend on the acquiring bank or financial institution's capacity to hold the assets till the market improves and sell them later to recover sizeable chunk of the loans06-03-2020
RBI wants to know where YES Bank's skeletons are
The Reserve Bank of India has imposed a moratorium on struggling Yes Bank, capping withdrawals for depositors at Rs. 50,000 with some exceptions, and superseding the YES Bank board for 30 days. The superseding in particular, has raised eyebrows. It suggests that the Central Bank does not trust the Board to provide a full accounting of the bank's health or guide it out of failure. RBI could have put YES Bank under the Prompt Corrective Action Framework (PCA), which would have kept the management in place, and working closely with the RBI to improve the bank's health. This move to appoint an administrator could also mean that the Bank's ratio of capital to risk weighted assets has fallen from an acceptable >9% to below 6%. RBI wants to know where the skeletons are Instead, the RBI has placed the former CFO of State Bank of India Prashant Kumar as administrator for YES Bank. The administrator will be inspecting the bank's books and provide a detailed x-ray to RBI, so that the Central Bank has a clear idea of asset quality, loans at risk and the possible steps that can be taken to bring the bank back to health. The RBI is moving carefully here: it clearly hopes that by superseding the board - which has tried and failed to raise funds over the past several months - it can prevent a bank failure that could hit the overall financial system hard. YES Bank is currently in 50, mostly negative screeners.06-03-2020
Yes Bank Ltd - 532648 - Clarifies on News Item
With reference to news flashed on Bloomberg dated March 05, 2020 quoting "Govt is said to have approved @TheOfficialSBI's plan to buy stake in @YESBANK, said to ask SBI to form consortium for Yes Bank stake", Yes Bank Ltd has submitted to BSE a copy of Clarification is enclosed.05-03-2020
Yes Bank Ltd - 532648 - Clarification sought from Yes Bank Ltd
The Exchange has sought clarification from Yes Bank Ltd on March 05, 2020, with reference to news flashed on Bloomberg dated March 05, 2020 quoting "Govt is said to have approved @TheOfficialSBI's plan to buy stake in @YESBANK, said to ask SBI to form consortium for Yes Bank stake"The reply is awaited.05-03-2020
YES Bank in talks with mutual funds for raising up to $500 million
If the private bank is able to raise funds in this round, it would get some breathing space04-03-2020
Top 10 biz headlines: Markets on edge, auto sale, YES Bank, and more
From markets feeling the pinch of coronavirus to declining auto sales, Here are the top 10 business headlines on Monday02-03-2020