Who will takeover Yes Bank?
Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times.
The stake acquisition has been approved by the RBI to rescue Yes Bank.
The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank..
Is there any lock in period for Yes Bank?
The final reconstruction scheme for Yes Bank notified by the government on 13 March has locked in existing shareholders for a period of three years up to 75% of their shareholding. Only those shareholders who have less than 100 shares in the bank, can sell their entire shareholding.
What’s wrong with Yes Bank?
The central bank said the financial position of Yes Bank has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits.
What is the current situation of Yes Bank?
The bank made a loss of Rs 6,547 crore in 2017-18. Its net profit was Rs 862.23 crore in 2018-19. The current year 2019-20 is looking better with over Rs 10,000 crore worth profit till December 2019 but the YES Bank rescue will surely put some burden.
Is it safe to invest in Yes Bank?
Given the size of the bank, the government stepped in rather quickly and it is unlikely that a bank of the size of Yes Bank would be allowed to collapse. This makes the deposits of Yes Bank safe at least for a tenure of 1-2 years.
Who is the owner of Yes Bank?
Rana KapoorRana Kapoor, Founder, Managing Director & CEO, YES BANK received the ‘Entrepreneurial Banker of the Decade’ award from the Bombay Management Association today. The award was presented by Mr. K.N. Vaidyanathan, Executive Director, Securities and Exchange Board of India (SEBI) at the 14th Annual Convention in Mumbai.
Is ravneet Gill leaving Yes Bank?
Ravneet Gill: Yes Bank says RBI allowed ex-CEO Ravneet Gill to use office car, home for extended period – The Economic Times.
Which bank is best HDFC or Yes Bank?
FinancialsEQUITY SHARE DATAHDFC BANK/ YES BANKHighRs322.8%LowRs503.3%Income per share (Unadj.)Rs34.8%15 more rows
Is yes bank safe in 2020?
Deposits With Yes Bank Are Safe: RBI Governor. Days ahead of a moratorium imposed on Yes Bank Ltd. is set to be lifted, the Reserve Bank of India governor assured depositors that their money is safe and that the regulator stands ready to provide liquidity if needed.