As Yes Bank restarts ops, new chief says all is well

Yes Bank CEO-designate Prashant Kumar has said there are absolutely no worries on the liquidity front and that complete operational normalcy would be restored from 6 pm today. Continue Reading

Yes Bank customers can make payments through other bank accounts

Crisis-hit Yes Bank said today that customers could now make payments towards their credit card and loans through other bank accounts, days after prominent banking services were curtailed after the RBI imposed moratorium on the lender. Continue Reading

Yes Bank’s digital partners hit by moratorium

After Yes Bank was placed under moratorium, digital payments were impacted as PhonePe, which depends on the cash-strapped lender for its transactions, could not operate. Continue Reading

Ashok Kapur family backs Yes Bank’s new management

Extending full support to the new management, Yes Bank’s single-largest shareholder and co-promoter, the late Ashok Kapur’s daughter Shagun Gogia said the issues of governance and transparency are fully dealt with now. Gogia, who was recently inducted to the board of the troubled private sector lender, also said her family was fine with lowering their shareholding below the present 8.33 per cent in case a big investor comes on board at the end of the ongoing capital-raising exercise. Continue Reading

Yes Bank capital raising plan on track

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’. Continue Reading

Investor wealth spikes Rs 2.11 lakh cr after FM announcements

The BSE Sensex advanced over 1,300 points to a high of 37,421.70. Led by the spike in equities, the market capitalisation of BSE-listed companies climbed Rs 2,11,086.42 crore to Rs 1,40,79,839.48 crore. Continue Reading

RBI tells Yes Bank it misrepresented risk assessment report

The RBI, in what can be classified as a first-of-its-kind rebuke, told Yes Bank that the risk assessment report was intended to a be a “confidential”‘ document and that disclosures made by the lender was viewed by the regulator as a “deliberate attempt to mislead”. Continue Reading