The SBI board has given the largest lender an "in-principle" approval to invest in the capital-starved Yes Bank. The central board of SBI discussed the matter at a meeting on Thursday, it informed the exchanges.
The Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank and capped withdrawals at Rs 50,000 per account till further orders
Yes Bank: RBI has superseded Board of Directors of Yes Bank. RBI has appointed former State Bank of India Chief Financial Officer Prashant Kumar as administrator for the bank.
The Reserve Bank of India (RBI) on Thursday imposed a moratorium on withdrawals at Yes Bank, as it capped withdrawals at Rs 50,000
Cash-starved Yes Bank may be rescued by country's largest lender State Bank of India-led consortium as reports suggest that the government has approved a plan in this regard to save the bank from sinking.
Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday.
Yes Bank on Thursday said it has sold more than 15 lakh shares, constituting 2.68 per cent of equity stake, of SICAL Logistics in various tranches. The shareholding of Yes Bank in SICAL Logistics has come down to 5.49 per cent post sale of the 15.66 lakh shares, according to a regulatory filing.
Will Yes Bank shut down? Over the past year, several private lenders including Yes Bank are under financial stress. Speaking on ongoing Yes Bank 'deep' financial crisis, State Bank of India chairman Rajnish Kumar said YES Bank ‘will not be allowed to fail’.
Shares of Yes Bank closed the day nearly 2 per cent lower on Friday after Moody's Investors Service placed the company's long-term foreign currency issuer rating of B2 under review, with the direction uncertain.
Moody's Investors Service has placed Yes Bank's long-term foreign currency issuer rating of B2 under review, with the direction uncertain, citing "slowness in raising new capital". "The placing of Yes Bank's deposit rating of B2 under review reflects Moody's expectation that the bank's standalone viability is getting increasingly challenged by its slowness in raising new capital," the US-based agency has said in a statement.
Allaying concerns over reports of its weakening financial health, Yes Bank on Wednesday said the lender''s capital adequacy is at a comfortable level and efforts are being made to further strengthen it. The bank has asked its customers not to pay heed to rumours about its financial health.
Shares of Yes Bank on Friday tumbled over 5 per cent after the company's Independent Director Uttam Prakash Agarwal resigned citing "serious concerns" on "deteriorating practices" and the state of affairs at the private sector lender. The scrip plunged 5.29 per cent to close at Rs 44.80 on the BSE.
Yes Bank's independent director Uttam Prakash Agarwal has resigned citing "serious concerns" on "deteriorating practices" and the state of affairs at the private sector lender.
The board of private lender Yes Bank is willing to favourably consider the offer of USD 500 million investment of Citax Holdings and Citax Investment Group, the bank said on Tuesday.
Shares of Yes Bank on Tuesday fell over 10 per cent amid reports about difficulty being faced by the lender over a USD 2-billion fundraising plan. The stock dived 10.05 per cent to end at Rs 50.55 on the BSE.
Yes Bank shares tumbled over 5 per cent in morning deals on Friday, hit by ratings downgrade by Moody's Investors Service. The lender's shares were trading at 58.75 apiece, down 5.39 per cent on the BSE. Likewise, the stock dived 5.23 per cent to Rs 58.85 per unit on the NSE.
The bank has been finding the going tough since August last year, after the RBI refused to clear the reappointment of co-promoter and chief executive Rana Kapoor on concerns around corporate governance and poor lending practices.
Shares of Yes Bank on Tuesday closed over 3 per cent higher after ace investor Rakesh Jhunjhunwala bought nearly 1.3 crore shares of the company for around Rs 87 crore through open market transactions. The scrip gained 3.40 per cent to close at Rs 68.35 on the BSE. During the day, it advanced 8.77 per cent to Rs 71.90. On the NSE, it climbed 3.25 per cent to close at Rs 68.30.
According to bulk deal data available with the BSE, Jhunjhunwala purchased 1,29,50,000 shares of the private lender amounting to 0.5 per cent stake.
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
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