The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said.
Justice Bharati Dangre granted them bail as the Enforcement Directorate failed to file its charge sheet in the case within the stipulated 60-day period.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
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).
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Banks tighten hold on Mallya for defaults on KFA loans
The law minister last month told the assembly that of the lord's total Rs 626.44 crore, Rs 592 crore was kept in Yes Bank. While Rs 545 crore was in the bank as fixed deposits, the remaining Rs 47 crore was in a flexi account.
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 central agency is probing Kapoor's role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks that were reportedly received in his wife's accounts.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
Customers can electronically transfer money instantly to more than 1,000 branches of banks across India.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
'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.'
With a balance sheet size of Rs 22,000 crore (Rs 220 billion), we are a meaningful player in our home country, says Rana Kapoor.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
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.
Short sellers may capitalise on the weak sentiment owing to the dispute between co-founders Rana Kapoor and Madhu Kapur.
Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well.
'At the first sign of real trouble, that money will move. There will be a run.'
Writes to shareholders highlighting its performance, governance practices.
Uttam Prakash Agarwal alleged that Citax and Braich offers were incomplete and did not include firm commitment as to the price, size, timings, confirmation from the banks about availability of the funds.
Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
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.
On the capital raising, where there are reports of the bank needing at least Rs 20,000 crore to spring back to normalcy, Yes Bank administrator Prashant Kumar declined to give an estimate of the requirement but said it would like for most of the fund raising to happen in the first round itself.
'Even if they align with the TVK now, I don't think the AIADMK leadership will completely surrender to the dominance of Vijay.'
The Reliance Centre, a guesthouse and some residential assets in Mumbai, apart from 231 plots of land in Chennai, are among the fresh assets worth Rs 1,120 crore attached by the ED as part of its ongoing money-laundering probe against the companies of Reliance Group chairman Anil Ambani.
Bombay High Court upholds rejection of Shagun Gogia as board member, terms two director appointments invalid.
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
She urges them to vote against majority of resolutions at AGM.
"The Reserve Bank of India... has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls," Yes Bank said in a regulatory filing.
The delimitation in Assam has quietly changed the political scene, raising questions about whether new constituency boundaries helped the BJP by spreading out Muslim-majority voters.
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
