‘No need to worry about YES Bank deposits’
Prashant Kumar, the bank’s administrator, echoed the words of RBI governor Shaktikanta Das that there was no cause for worry about deposits as the moratorium on withdrawals is set to end on March 18.
Prashant Kumar, the bank’s administrator, echoed the words of RBI governor Shaktikanta Das that there was no cause for worry about deposits as the moratorium on withdrawals is set to end on March 18.
The beleaguered private bank’s new investors have to deal with the already declining deposit base and mounting non-performing assets.
The government notifies reconstruction scheme with wider room for capital, four board members, and conditional lock-in for the existing shareholders.
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