Rana Kapoor gets interim relief from Bombay HC but directors' appointment subject to final order.
The new-age lender, amongst the last of the banks to be granted licences, will invest up to Rs 25 crore (Rs 250 million) and enter the highly competitive fray in early FY14, sources said.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Bank of Baroda, a state-owned bank, in its quarterly update on Friday said its domestic deposits grew 9.23 per cent year-on-year (Y-o-Y) in October-December (Q3FY25) at Rs 11.65 trillion, while advances increased 11.76 per cent Y-o-Y at Rs 9.63 trillion, outpacing deposit growth during the period. Domestic retail advances grew at a robust 19.5 per cent Y-o-Y to Rs 2.43 trillion.
HSBC is likely to raise up to Rs 2,450 crore (Rs 24.50 billion) by selling its stake in Axis Bank and YES Bank, said senior bankers familiar with the development.
Vedanta, Tata Steel, Tata Motors, ONGC, M&M, Maruti, NTPC and HUL too fell up to 4.06 per cent.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
The voting results were concluded on Sunday and will be sent to the exchanges on Monday morning. YES Bank could not be reached for comment.
Cox & Kings is currently going through the corporate insolvency resolution process. Around 2,500 operational creditors have submitted claims of over Rs 631 crore, 2,440 employees and workman have claimed dues of over Rs 94 crore and other creditors have submitted claims of over Rs 3 crore.
.jpg)
According to people familiar with the development, a meeting between the families was held on Saturday to discuss whether the case could be settled outside court.
Yes Bank would open 28 branches by March-end giving it a national footprint, H Srikrishnan, executive director said on Wednesday.
New-generation Yes Bank is in talks with Asian Development Bank for Rs 100 crore (Rs 1 billion) debt.
The fight between Madhu Kapur, widow of bank's co-founder Ashok Kapur, and current Managing Director and CEO Rana Kapoor is not about money.
The scrip was the worst hit among the front-line companies on both the indices during the day.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
CEO Rana Kapoor said no such discussion or proposition has ever transpired.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Yes Bank chairman Ashok Kapur was on Friday found dead in Mumbai's Oberoi (Trident) Hotel, which was under terrorists' siege for several hours since late Wednesday evening.
Eyeing growth of at least 40 per cent in loans in the current financial year, Yes Bank on Friday said it would recruit 900 people, including 500 specialists, in the next nine months to drive expansion in six key segments.
The broader NSE Nifty rose 32.15 points or 0.29 per cent to settle at 11,284.30.
SBI rose 2.43 per cent, Maruti gained 2.38 per cent, Sun Pharma 1.87 per cent and HUL was up by 1.78 per cent.
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
Madhu Kapur is fighting the case against the bank as it refused to accept her daughter as a nominee director.
Global reinsurer Swiss Reinsurance Company on Friday completed the acquisition a 3.57 per cent stake in India's newest bank
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
Customers can electronically transfer money instantly to more than 1,000 branches of banks across India.
Micro-finance institutions (MFIs) are planning to take legal action against YES Bank's move to recall a part of its loans to them.
Yes Bank Ltd, a new private sector bank, will make its commercial launch in second quarter of 2004 with one branch each in Mumbai and Delhi.
With a paid up capital of Rs 200 crore (Rs 2 billion), YES Bank is expected to start operations by January and is planning an initial public offering by April 2004 to shore up its capital base.
The move comes after RBS failed to close a deal involving sale of its India retail assets to Hongkong and Shanghai Banking Corporation.
Top gainers in the Sensex pack included Kotak Bank, HCL Tech, HUL, TCS, Bharti Airtel, Asian Paints, Bajaj Finance and SBI, while Reliance Industries, Tech Mahindra, ICICI Bank and Infosys ended with losses.
JK Cotton of Kanpur has roped in two strategic investors in the company -- Yes Bank and Ayodhya Finlease Ltd. This is likely to pave the way for resuming production after about 19 years.
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25). Current and savings account (CASA) deposits continue to face pressure. Private-sector lenders YES Bank, Bandhan Bank, and RBL Bank saw their deposit growth contract by 0.5 per cent, 1.5 per cent, and 2 per cent, respectively.
One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.
The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app. In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP).
Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances