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Slumping growth opens the door for more RBI rate cuts

Monday, December 2, 2019, 7:40 AM

Slumping growth opens the door for more RBI rate cuts

India's deepening economic-slowdown is likely to throw open the door to more monetary-policy easing this week. The RBI will meet days after a report showed growth collapsed to 4.5% in the July-September quarter, first-time it's been below 5% since 2013. Led by Governor Shaktikanta Das, RBI already has cut interest rates by 135 basis-points in five moves this year, the most by any Asian-central-bank.

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RBI tells YES Bank to review audit panel chief's

Monday, November 25, 2019, 8:15 PM

RBI tells YES Bank to review audit panel chief's "fit and proper" status

The RBI has asked Yes Bank to examine the "fit and proper" status of the lender's audit committee head Uttam Prakash Agarwal, according to a report in Mint. The central bank's instruction comes after it came to light that Agarwal failed to disclose criminal cases filed against him, the report said. Agarwal is also a former Chairman of Institute of Chartered Accountants of India.

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Rana Kapoor, Morgan Credits and YES Capital sell remaining 0.8% stake in YES Bank

Wednesday, November 20, 2019, 8:19 AM

Rana Kapoor, Morgan Credits and YES Capital sell remaining 0.8% stake in YES Bank

Rana Kapoor and promoter entities YES Capital and Morgan Credits have sold their remaining 0.8 per cent stake in private lender YES Bank, the company informed exchanges on Tuesday. As per an exchange filing, the promoters sold 2.04 crore shares in the open market during November 13-14. The promoter entities now hold a token of 900 shares in the lender.

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Overseas equity in domestic debt a perfect combination: N Jayakumar

Wednesday, November 13, 2019, 4:53 PM

Overseas equity in domestic debt a perfect combination: N Jayakumar

New investors are coming in from across the world into the Indian-financial-services. Also, any number of overseas funds are ready to give last-mile financing and people still do not understand this. This is not equity financing. This is priority financing which will get paid off first but projects will get completed and ghost towns will start looking completed, says N Jayakumar, MD, Prime Securities.

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YES Bank to raise $1.2 billion by Dec, give board seat to new investors

Monday, November 4, 2019, 8:16 AM

YES Bank to raise $1.2 billion by Dec, give board seat to new investors

Private sector lender Yes Bank is aiming to finish a USD 1.2 billion (about Rs 8,462 crore) equity raising exercise by December and willing to give new investors a board seat, according to a top official. The other investors include private equity funds, domestic mutual funds, domestic financial investors and also domestic family offices.

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Yes Bank says it has $3 billion worth of offers on table

Saturday, November 2, 2019, 9:47 PM

Yes Bank says it has $3 billion worth of offers on table

Private sector lender Yes Bank has received offers of $3 billion from potential investors, including the recently-announced $1.2-billion from a North-American family office, said Ravneet Gill, chief executive of the bank. Speaking to a-small-group of reporters late on Friday evening, Gill said that the bank has non-binding offers from two domestic mutual funds, six global private-equity-firms, two Indian financial investors and two Indian-family offices.

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YES Bank tanks 8% on denying reports of strategic investment by Microsoft

Wednesday, October 9, 2019, 8:19 PM

YES Bank tanks 8% on denying reports of strategic investment by Microsoft

Shares of YES-Bank fell 8% in Wednesday's session after the lender denied reports suggesting active talks between bank and Microsoft-Corporation and two other tech-firms for a possible stake acquisition. YES-Bank in a regulatory filing said it is "not aware of the source, which resulted in the news item and as a matter of policy, the bank would not like to comment on such article."

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Yes Bank Group President Rajat Monga Resigns

Thursday, October 3, 2019, 6:24 PM

Yes Bank Group President Rajat Monga Resigns

Yes Bank CEO Ravneet Gill on Thursday said Group President and former CFO Rajat Monga has decided to "move on". The resignation ends his association with the private lender since its inception in 2004. Monga, who was also considered for the CEO's position, had divested his entire stake in the bank for Rs.8.22 crore during September 18-20.

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Rana Kapoor, promoter entities sell 2.75% in YES Bank

Saturday, September 21, 2019, 8:19 PM

Rana Kapoor, promoter entities sell 2.75% in YES Bank

Promoter group companies of Yes Bank along with co-founder Rana Kapoor have sold a combined 2.75 percent stake in the lender through the open market. Yes Capital (India) Pvt Ltd, Morgan Credits Pvt Ltd and Rana Kapoor have sold a combined 2.75 percent in Yes Bank through open market process, Morgan Credits said in a regulatory filing on September 21.

News

 
World Bank to sanction Rs 3,000 cr for food parks: Govt

Saturday, September 14, 2019, 9:02 AM

World Bank to sanction Rs 3,000 cr for food parks: Govt

The World Bank will provide Rs 3,000 crore funds to finance mini and mega food parks across the country, particularly in Northeast, and help boost farmers' income, Union Minister Rameswar Teli said on Friday. Minor formalities remain to be completed on this front before the first disbursement of the sanctioned amount is released, the Minister of State for Food Processing Industries said.

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