Who is owner of Yes Bank?
Rana KapoorRana Kapoor, Founder, Managing Director & CEO, YES BANK receives the ‘Entrepreneurial Banker of the Decade’ award from Bombay Management Association(BMA).
Who is the new CEO of Yes Bank?
Prashant Kumar (Mar 6, 2020–)Yes Bank/CEOUnder a new management, Yes Bank has overhauled its risk and governance frameworks to save itself from reputational risks and come out as a brand committed to integrity, its chief executive and managing director Prashant Kumar has said.
Where is Rana Kapoor now?
Currently Kapoor is lodged at Taloja Jail, Maharashtra. Kapoor’s bail application in the Prevention of Money Laundering case filed on the grounds that he is keeping poor health and is at the risk of contracting COVID-19, was rejected by Mumbai Court in April 2020.
Is there any lock in period for Yes Bank?
The final reconstruction scheme for Yes Bank notified by the government on 13 March has locked in existing shareholders for a period of three years up to 75% of their shareholding. Only those shareholders who have less than 100 shares in the bank, can sell their entire shareholding.
What is the problem with Yes Bank?
NPAs: YES Bank ran into trouble following the central bank’s asset quality reviews in 2017 and 2018, which led to a sharp increase in its impaired loans ratio and uncovered significant governance lapses that led to a complete change of management. The bank subsequently struggled to address its capitalisation issues.
Will Yes Bank survive 2020?
This eroded investors confidence further and Yes Bank continued to take a beating in the markets.” Finally, Yes Bank had to be rescued. In March 2020, SBI and seven other Indian banks took a combined 79% stake in Yes Bank.
Is it safe to continue with Yes Bank?
Your money with Yes Bank is absolutely safe, Shaktikanta Das tells depositors. Mumbai: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday assured all depositors of Yes Bank Ltd that their money is safe and there is no reason to withdraw cash in panic.
Who will takeover Yes Bank?
Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times. The stake acquisition has been approved by the RBI to rescue Yes Bank. The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank.
Is Yes Bank getting merged?
State Bank of India will take a 49% stake in Yes Bank, but there will not be any merger. SBI chairman clears the air. State Bank of India (SBI) chairman Rajnish Kumar has clarified there will be no merger of Yes Bank with SBI.
Can Yes Bank shut down?
The bank cannot be shut down nor can it be merged. … Yes Bank will be managed and run as an independent and private sector bank by a professional board with no interference by SBI in its day-to-day affairs, Kumar said. Under RBI’s Yes Bank Ltd Reconstruction Scheme 2020, SBI will take up to 49% stake at ₹10 per share.