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