The aftermath of greed
Pavan C. Lall’s book "Yes Man: The Untold Story of Rana Kapoor" is a lucid narrative of how one of India’s better-known bankers fell prey to wild ambition, and exposed the chinks in the system.
Pavan C. Lall’s book "Yes Man: The Untold Story of Rana Kapoor" is a lucid narrative of how one of India’s better-known bankers fell prey to wild ambition, and exposed the chinks in the system.
The government and the RBI have stepped in with a community bailout for the beleaguered private sector bank to prevent a financial contagion. But it’s a long, bumpy road to recovery.
Providing liquidity on tap for market participants is the RBI’s strategy to combat the coronavirus fallout.
No respite for controversy-hit YES Bank after the RBI finds the private sector lender guilty of under-reporting bad loans, again, casting a shadow on the bank’s asset quality and profitability in Q3.
The private lender receives a binding offer of $1.2 billion from a global investor; shares rally as much as 35% before closing the day with 24% gain at ₹70.45.
An analysts call an hour before the start of trading after an unprecedented disclosure of key numbers by the bank helps to arrest share price fall.
While Rana Kapoor has been selling ‘diamonds’, YES Bank is recording new lows on every next trading day.
The private lender’s shares gained 13.5% on Wednesday.
Worst quarterly performance in 20 quarters; net profit plunges to ₹113.8 crore from ₹1,260.36 crore a year ago due to higher provisioning.
The current chief of Deutsche Bank in India will take charge at YES Bank on or before March 1, as the market cheers the end of uncertainty around the bank’s future leadership