Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
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.
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.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
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.
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.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
Private sector lender Yes Bank has chalked out an aggressive plan to offer a host of retail products over the next few months, which could include home, auto and education loans, to grab a larger share of the retail market.
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.
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.
The entire proceeds from the sale of Reliance Centre will be utilised only to service YES Bank debt.
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
BJP spokesperson G V L Narasimhra Rao noted that Priyanka's husband Robert Vadra is accused of using "shady methods to make windfall profits from dubious real estate transactions" and said the report of her receiving Rs 2 crore from Kapoor for a painting which was not her own shows that the powerful couple have leveraged their political power to make "private gains".
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
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.
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.
YES Bank has launched a $100-million private equity fund called the Food and Agribusiness India Fund.
'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.'
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Yes Bank on Thursday announced setting up of a full-fledged branch in the state that will cater to retail banking, wealth management and business banking products and services.\n\n
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.
Banks recorded a higher growth year-on-year (Y-o-Y) in raising deposits during the second quarter of financial year 2025 (Q2FY25) compared to Q1FY25, owing to intensified efforts to raise liabilities by offering higher rates and innovative schemes.
No word on appointment of Shagun Kapur Gogia
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.
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
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.
The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
B Chandramouli and P Kumar were on Monday appointed the chief operating officer and head of business services, respectively, at YES Bank Ltd.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
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.
"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.
Banks tighten hold on Mallya for defaults on KFA loans
Eyes bank, brokerages, and asset management businesses.
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.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
IndusInd Bank, Infosys, Maruti, Vedanta, Hero MotoCorp, Tata Motors, ONGC and RIL too fell up to 4.96 per cent.
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.
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