The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount was Rs 410.67 crore and Rs 58.32 was interest.
"No Yes Bank," Congress leader Rahul Gandhi said on Friday, taking a dig at the Bharatiya Janata Party-led government over the moratorium placed on Yes Bank, and alleged that Prime Minister Narendra Modi and his "ideas" had destroyed the country's economy.
The Yes Bank Reconstruction Scheme 2020, shall come into force on March 13, the gazette notification said.
Private sector lender Yes Bank on Saturday reported a 46.7 per cent growth in net profit to Rs 502 crore for the June 2024 quarter, helped by a reduction in provisions. The city-headquartered bank's core net interest income rose 12.2 per cent to Rs 2,000 crore. Its net interest margin stayed flat at 2.4 per cent.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Three officials from leading private banks have been arrested for their alleged involvement in a Rs 2,500-crore cyber fraud racket in Gujarat's Rajkot district, bringing the total number of arrests in the case to 20.
Three officials from leading private banks have been arrested for their alleged involvement in a Rs 2,500-crore cyber fraud in Gujarat's Rajkot district, bringing the total number of arrests in the case to 20, according to police reports.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
No word on appointment of Shagun Kapur Gogia
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
Customers can electronically transfer money instantly to more than 1,000 branches of banks across India.
Writes to shareholders highlighting its performance, governance practices.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019.
Yes Bank has taken over the headquarters of Anil Ambani's group in suburban Santacruz in Mumbai for failure to repay dues worth Rs 2,892 crore. The private sector lender has also taken possession of two flats in South Mumbai for the non-payment of dues by Reliance Infrastructure, according to a notice published by Yes Bank in a newspaper on Wednesday.
Yes Bank, the new private sector banking entity, has filed a draft Red Herring Prospectus with the Securities and Exchange Board of India for its initial public offering of seven crore equity shares.
The RBI has removed Yes Bank from its caution list of monitoring foreign investment following the dip in shareholding by foreign investors below the prescribed limit.
The Netherlands-based Rabobank on Tuesday sold about 11 per cent of its stake in new generation private sector lender Yes Bank as it plans to set up its own banking operation in the country.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
The Enforcement Directorate on Friday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, in Delhi in a money laundering case linked to an alleged bank loan fraud, officials said.
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
Kapoor was among the founding team of Yes Bank, along with Ashok Kapur who died in 2008.
Eyes bank, brokerages, and asset management businesses.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
Yes Bank is likely to hit the market in the second week of May with its Initial Public Offer of 7 crore (70 million) shares to raise up to Rs 300 crore (Rs 3 billion).
Yes bank is entering the capital market on June 15 with an initial public offering of 70 million equity shares of Rs 10 each for cash at a premium to be decided through the book building process.
The new labour Codes, notified by the central government in November 2025, have pushed up employee costs for private-sector banks and insurance companies, with these firms reporting higher operating expenses in the October-December quarter (Q3FY26) due to the statutory impact of the new labour Codes.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
