Yes Bank capital raising plan on track

MD & CEO, Yes Bank, Ravneet Gill

Chennai: YES BANK recently announced that it has received acknowledgment from RBI to go ahead with the proposed increase in its authorized share capital. A press release stated that the ‘bank shall now seek necessary shareholders’ consent and proceed expeditiously with its capital raise’.

“The bank’s retail franchise continues to strengthen with an increase of 39 per cent in the number of new fixed seposit (FD) accounts, over the previous quarter,” said MD and CEO, Yes Bank, Ravneet Gill. “Subsequent to receiving the go ahead from the RBI, the bank is firmly on track to raising the required growth capital.”

NT Bureau